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 three months
ended September 30,
 
         2008            2007      

Earnings:

     

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

   $ 717    $ 1,180  

Add:

     

Equity losses (earnings) from affiliates

     359      (246 )

Dividends received from affiliates

     30      19  

Fixed charges, excluding capitalized interest

     279      260  

Amortization of capitalized interest

     8      9  
               

Total earnings available for fixed charges

   $ 1,393    $ 1,222  
               

Fixed charges:

     

Interest on debt and finance lease charges

   $ 221    $ 213  

Capitalized interest

     16      8  

Interest element on rental expense

     58      47  
               

Total fixed charges

   $ 295    $ 268  
               

Ratio of earnings to fixed charges

     4.7      4.6