EX-12.1 2 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

News Corporation

Computation of Ratio of Earnings to Fixed Charges

(in Millions, Except Ratio Amounts)

(Unaudited)

 

     For the nine months ended
March 31,		  
     2006     2005  

Earnings:

     

Income from continuing operations before income tax expense and minority interest in subsidiaries

    $ 3,283     $ 2,373  

Add:

     

Equity (earnings) losses from affiliates

      (610 )     (154 )

Dividends received from affiliates

      69       77  

Fixed Charges (excluding capitalized interest and perpetual preference dividends)

      676       611  

Amortization of capitalized interest

      32       36  
                

Total earnings available for fixed charges

    $ 3,450     $ 2,943  
                

Fixed charges:

     

Interest on debt and finance lease charges

    $ 592     $ 537  

Capitalized interest

      23       26  

Perpetual preference dividends paid

      —         10  

Interest element on rental expense

      84       74  
                

Total fixed charges

    $ 699     $ 647  
                

Ratio of earnings to fixed charges

      4.9       4.5