EX-12 2 a2152141zex-12.htm EXHIBIT 12
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Exhibit 12

THE NEW YORK TIMES COMPANY

Ratio of Earnings to Fixed Charges

(Unaudited)

 
   For the Years Ended
(In thousands, except ratio)

   December 26,
2004

   December 28,
2003

   December 29,
2002

   December 30,
2001

   December 31,
2000
Earnings from continuing operations before fixed charges                              
Income from continuing operations before income taxes, minority interest and income/loss from joint ventures   $ 476,405   $ 508,070   $ 504,433   $ 332,204   $ 637,830
Distributed earnings from less than fifty-percent owned affiliates     14,990     9,299     6,459     14,859     19,375
   
 
 
 
 
Adjusted pre-tax earnings from continuing operations     491,395     517,369     510,892     347,063     657,205
Fixed charges less capitalized interest     55,151     57,752     60,023     64,069     80,876
   
 
 
 
 
Earnings from continuing operations before fixed charges   $ 546,546   $ 575,121   $ 570,915   $ 411,132   $ 738,081
   
 
 
 
 
Fixed charges                              
Interest expenses, net of capitalized interest   $ 44,191   $ 46,704   $ 48,697   $ 51,405   $ 68,566
Capitalized interest     7,181     4,501     1,662     459     —
Portion of rentals representative of interest factor     10,960     11,048     11,326     12,664     12,310
   
 
 
 
 
Total fixed charges   $ 62,332   $ 62,253   $ 61,685   $ 64,528   $ 80,876
   
 
 
 
 
Ratio of earnings to fixed charges     8.77     9.24     9.26     6.37     9.13
   
 
 
 
 
Note:   The Ratio of Earnings to Fixed Charges should be read in conjunction with the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-K.



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THE NEW YORK TIMES COMPANY Ratio of Earnings to Fixed Charges (Unaudited)