Exhibit 12 to Form 10-K for 1998 CINCINNATI BELL INC. COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES (Millions of Dollars) 1998 1997 1996 1995 1994 ---- ---- ---- ---- ---- Earnings (a) Income (loss) from continuing operations before income taxes, extraordinary charges and cumulative effect of change in accounting principle $ 126.1 $ 158.6 $ 153.2 $ (45.1) $ 67.4 (c) Interest expense 24.2 30.1 27.9 45.4 40.1 (d) One-third of rental expense 3.9 3.9 3.0 4.0 4.2 ----------- ----------- ---------- ----------- ----------- Total Earnings (1) $ 154.2 $ 192.6 $ 184.1 $ 4.3 $ 111.7 ----------- ----------- ---------- ----------- ----------- ----------- ----------- ---------- ----------- ----------- Fixed Charges (a) Interest expense $ 24.2 $ 30.1 $ 27.9 $ 45.4 $ 40.1 (b) One-third of rental expense 3.9 3.9 3.0 4.0 4.2 ---- ---- ---- ---- ---- Total Fixed Charges $ 28.1 $ 34.0 $ 30.9 $ 49.4 $ 44.3 ----------- ----------- ---------- ----------- ----------- ----------- ----------- ---------- ----------- ----------- Ratio of earnings to combined fixed charges 5.49 5.66 5.96 - 2.52 Coverage deficiency - - - $ 45.1 - (1) Results for 1995 decreased by $131.6 million for a charge associated with business restructuring. Results for 1996 and 1997 include credits in the amount of $27.4 million and $21.0 million, respectively, for pension settlement gains recognized as part of the business restructuring. Results in 1998 reflect the dilutive effect of the Company's new wireless venture which resulted in a $27.3 million loss in 1998.