EX-12.1 5 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,		  
          2009             2008      

Earnings:

     

(Loss) income before income tax expense and minority interest in subsidiaries

    $ (5,563 )   $ 5,581  

Add:

     

Equity losses (earnings) from affiliates

      369       (305 )

Dividends received from affiliates

      157       193  

Fixed Charges, excluding capitalized interest

      892       843  

Amortization of capitalized interest

      35       25  
                

Total (losses) earnings available for fixed charges

    $ (4,110 )   $ 6,337  
                

Fixed charges:

     

Interest on debt and finance lease charges

    $ 690     $ 702  

Capitalized interest

      45       30  

Interest element on rental expense

      202       141  
                

Total fixed charges

    $ 937     $ 873  
                

Ratio of earnings to fixed charges

      * *     7.3  
                

 

** Earnings do not cover fixed charges by $5.0 billion during the nine months ended March 31, 2009 due to a non-cash impairment charge of $8.4 billion ($6.7 billion net of tax). (See Note 8 to the Unaudited Consolidated Financial Statements of News Corproration for further discussion)