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,		  
         2010             2009      

Earnings:

     

Income before income (loss) tax expense

    $ 2,419      $ (5,563 ) 

Add:

     

Equity (earnings) losses from affiliates

      (271 )      369   

Dividends received from affiliates

      190        157   

Fixed charges, excluding capitalized interest

      931        892   

Amortization of capitalized interest

      60        35   
                

Total earnings available for fixed charges

    $ 3,329      $ (4,110 ) 
                

Fixed charges:

     

Interest on debt and finance lease charges

    $ 761      $ 690   

Capitalized interest

      35        45   

Interest element on rental expense

      170        202   
                

Total fixed charges

    $ 966      $ 937   
                

Ratio of earnings to fixed charges

      3.5        * * 
                

 

** Earnings did 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 accompanying unaudited consolidated financial statements for further discussion)