Attached files
Exhibit 12.1
News Corporation
Computation of Ratio of Earnings to Fixed Charges
(in Millions, Except Ratio Amounts)
(Unaudited)
For the six months ended December 31, |
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2009 | 2008 | |||||||
Earnings: |
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Income before income (loss) tax expense |
$ | 1,263 | $ | (7,188 | ) | |||
Add: |
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Equity (earnings) losses from affiliates |
(90 | ) | 329 | |||||
Dividends received from affiliates |
152 | 140 | ||||||
Fixed charges, excluding capitalized interest |
629 | 558 | ||||||
Amortization of capitalized interest |
36 | 18 | ||||||
Total earnings available for fixed charges |
$ | 1,990 | $ | (6,143 | ) | |||
Fixed charges: |
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Interest on debt and finance lease charges |
$ | 514 | $ | 452 | ||||
Capitalized interest |
23 | 32 | ||||||
Interest element on rental expense |
115 | 106 | ||||||
Total fixed charges |
$ | 652 | $ | 590 | ||||
Ratio of earnings to fixed charges |
3.1 | * | * | |||||
** | Earnings do not cover fixed charges by $6.7 billion during the six months ended December 31, 2008 due to a non-cash impairment charge of $8.4 billion ($6.7 billion net of tax). (See Note 8 to the accompanying unaudited consolidated financial statements for further discussion) |