EX-12 3 a2121902zex-12.htm EXHIBIT 12
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EXHIBIT 12


THE NEW YORK TIMES COMPANY
Ratio of Earnings to Fixed Charges
(Dollars in thousands, except ratios)
(Unaudited)

 
  For the
Nine Months
Ended
September 28,
2003

  For the Years Ended
(In thousands, except ratio)

  December 29,
2002

  December 30,
2001

  December 31,
2000

  December 26,
1999

  December 27,
1998

Earnings from continuing operations before fixed charges                                    

Income before income taxes and income/loss from joint ventures

 

$

322,692

 

$

504,433

 

$

332,204

 

$

637,830

 

$

501,912

 

$

454,423
Distributed earnings from less than fifty-percent owned affiliates     4,101     6,459     14,859     19,375     13,061     18,192
   
 
 
 
 
 
Adjusted pre-tax earnings from continuing operations     326,793     510,892     347,063     657,205     514,973     472,615
Fixed charges less capitalized interest     44,232     60,023     64,069     80,876     63,313     56,029
   
 
 
 
 
 
Earnings from continuing operations before fixed charges   $ 371,025   $ 570,915   $ 411,132   $ 738,081   $ 578,286   $ 528,644
   
 
 
 
 
 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

$

35,914

 

$

48,697

 

$

51,405

 

$

68,566

 

$

52,503

 

$

46,927
Capitalized interest     3,174     1,662     459             173
Portion of rentals representative of interest factor     8,318     11,326     12,664     12,310     10,810     9,102
   
 
 
 
 
 
Total fixed charges   $ 47,406   $ 61,685   $ 64,528   $ 80,876   $ 63,313   $ 56,202
   
 
 
 
 
 
Ratio of earnings to fixed charges     7.83     9.26     6.37     9.13     9.13     9.41
   
 
 
 
 
 
Note:   The Ratio of Earnings to Fixed Charges should be read in conjunction with this Form 10-Q, as well as the Company's Form 10-K for the period ended December 29, 2002.



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THE NEW YORK TIMES COMPANY Ratio of Earnings to Fixed Charges (Dollars in thousands, except ratios) (Unaudited)