EXHIBIT 11
TELEPHONE AND DATA SYSTEMS, INC.
COMPUTATION OF EARNINGS PER COMMON SHARE
YEAR ENDED DECEMBER 31, 1997
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Net (Loss)....................................................................... $ (9,549)
Less: Preferred Dividends........................................................ (1,892)
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Net (Loss) Available to Common used in Earnings per Share--Basic................. $ (11,441)
Minority Income Adjustment....................................................... (100)
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Net (Loss) Available to Common used in Earnings per Share--Diluted............... $ (11,541)
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Weighted average number of Common and Series A Common Shares Used in Earnings per
Share--Basic................................................................... 60,211
Effect of Dilutive Securities:
Common Shares outstanding if Preferred Shares converted........................ --
Stock Options and Stock Appreciation Rights.................................... --
Common Shares Issuable......................................................... --
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Weighted average number of Common and Series A Common Shares Used in Earnings per
Share--Diluted................................................................. 60,211
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Earnings per Common Share--Basic................................................. $ (.19)
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Earnings per Common Share--Diluted............................................... $ (.19)
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Note: The minority income adjustment reflects the additional minority share of
U.S. Cellular's income computed as if all of U.S. Cellular's issuable
securities were outstanding.
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