EX-12.1 3 a2135664zex-12_1.htm EXHIBIT 12.1
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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 Years Ended
(In thousands, except ratio)
  For the
Quarter ended
March 28, 2004

  December 28, 2003
  December 29, 2002
  December 30, 2001
  December 31, 2000
  December 26, 1999

Earnings from continuing operations before fixed charges                                    
Income before income taxes, minority interest and income/loss from joint ventures   $ 100,092   $ 508,070   $ 504,433   $ 332,204   $ 637,830   $ 501,912
Distributed earnings from less than fifty-percent owned affiliates     1,000     9,299     6,459     14,859     19,375     13,061
   
 
 
 
 
 
Adjusted pre-tax earnings from continuing operations     101,092     517,369     510,892     347,063     657,205     514,973
Fixed charges less capitalized interest     13,221     57,752     60,023     64,069     80,876     63,313
   
 
 
 
 
 
Earnings from continuing operations before fixed charges   $ 114,313   $ 575,121   $ 570,915   $ 411,132   $ 738,081   $ 578,286
   
 
 
 
 
 
Fixed charges                                    
Interest expense, net of capitalized interest   $ 10,664   $ 46,704   $ 48,697   $ 51,405   $ 68,566   $ 52,503
Capitalized interest     1,493     4,501     1,662     459        
Portion of rentals representative of interest factor     2,557     11,048     11,326     12,664     12,310     10,810
   
 
 
 
 
 
Total fixed charges   $ 14,714   $ 62,253   $ 61,685   $ 64,528   $ 80,876   $ 63,313
   
 
 
 
 
 
Ratio of earnings to fixed charges     7.77     9.24     9.26     6.37     9.13     9.13
   
 
 
 
 
 
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 28, 2003.



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