EX-12.2 8 dex122.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES THE NEWS CORP. LTD. US GAPP Exhibit 12.2 The News Corporation Limited Computation of Ratio of Earnings to Fixed Charges (in accordance with US-GAAP)
For the six months ended December 31, For the years ended June 30, ------------ ----------------------------------------- 2002 2002 2001 2000 1999 1998 ------------ ------- ------ ----- ----- ----- (A$ in millions) Earnings: Pretax income from continuing operations (before minority interest) 1,000 (13,620) (184) 1,668 1,957 842 Addback: Dividends received (distributed earnings) of less than 50% owned companies 13 24 11 53 120 106 Amortization of capitalized interest 33 67 55 51 53 54 Fixed charges (exclusive of capitalized interest) 570 1,369 1,479 1,439 1,530 1,398 ------------ ------- ------ ----- ----- ----- Subtotal Earnings 1,616 (12,160) 1,361 3,211 3,660 2,400 Less: Undistributed earnings of less than 50% owned companies (113) (49) (117) (167) (67) (172) ------------ ------- ------ ----- ----- ----- Earnings available for Fixed Charges 1,503 (12,209) 1,244 3,044 3,593 2,228 ============ ======= ====== ===== ===== ===== Fixed Charges: Interest on debt 555 1,336 1,440 1,259 1,217 1,110 Finance lease charges 1 1 2 4 6 6 Capitalized interest 21 43 119 83 93 95 Interest expense of greater than or equal to 50% owned companies 2 7 9 52 184 167 Capitalized interest of greater than or equal to 50% owned companies - 1 - 8 - - Interest element of rental expense 12 25 29 123 123 114 ------------ ------- ------ ----- ----- ------ Total Fixed Charges 591 1,413 1,599 1,529 1,623 1,492 ============ ======= ====== ===== ===== ===== Ratio of Earnings to Fixed Charges 2.5 - - 2.0 2.2 1.5 ============ ======= ====== ===== ===== =====