EX-99.7 8 ex99_7.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex99_7.htm
EXHIBIT 99.7
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth the ratio of earnings to fixed charges for Thomson Reuters Corporation for the three months ended March 31, 2009.  For purposes of reporting with the US Securities and Exchange Commission, Thomson Reuters PLC is a successor issuer to Reuters Group PLC (Reuters). Reuters was acquired by The Thomson Corporation (renamed Thomson Reuters Corporation) on April 17, 2008.
 
Thomson Reuters has two parent companies — Thomson Reuters Corporation and Thomson Reuters PLC — and their respective subsidiaries operate as a unified group under a dual listed company structure. Accordingly, standalone Thomson Reuters PLC information, which excludes the results of Thomson Reuters Corporation, is not indicative of the financial position, results of operations or cash flows of Thomson Reuters as a whole and does not provide meaningful information for investors.  Thomson Reuters primary financial statements are the consolidated financial statements of Thomson Reuters Corporation, which account for Thomson Reuters PLC as a subsidiary.

Accordingly, the computation below is based on Thomson Reuters Corporation amended unaudited consolidated financial statements as at and for the three months ended March 31, 2009.

We compute the ratio of earnings to fixed charges by dividing the amount of total earnings by the amount of total fixed charges.

(U.S. dollars in millions, except ratio)
  
Three months ended
March 31,
2009
  
Earnings:
      
Earnings from continuing operations (1)
     189  
Add back:
        
Tax expense (1)
     69  
Earnings from continuing operations before tax expense
     258  
Add:
        
Fixed charges
     126  
Dividends from equity affiliates
     1  
Less:
        
Preference shares dividend requirement
     (1 )
Share of post tax earnings in equity method investees
     (1 )
Non-controlling interest before tax
     (6 )
Earnings, as adjusted
     377  
         
Fixed Charges:
        
Interest expense
     99  
Estimated interest component of rental expense
     26  
Preference shares dividend requirement
     1  
Fixed charges, total
     126  
         
Ratio of earnings to fixed charges
     2.99  
 
(1)
Amount as reported in Thomson Reuters Corporation amended unaudited consolidated income statement for the three months ended March 31, 2009.