EX-12.1 4 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 six months ended
December 31,
 
           2007              2006        

Earnings:

     

Income before income tax expense and minority interest in subsidiaries

   $ 2,568      $ 2,668  

Add:

     

Equity earnings from affiliates

     (196 )      (492 )

Dividends received from affiliates

     158        121  

Fixed Charges (excluding capitalized interest)

     546        495  

Amortization of capitalized interest

     17        18  
                 

Total earnings available for fixed charges

   $ 3,093      $ 2,810  
                 

Fixed charges:

     

Interest on debt and finance lease charges

   $ 458      $ 412  

Capitalized interest

     18        9  

Interest element on rental expense

     88        83  
                 

Total fixed charges

   $ 564      $ 504  
                 

Ratio of earnings to fixed charges

     5.5        5.6