EX-12 2 a2167394zex-12.htm EXHIBIT 12

Exhibit 12   

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

 
  For the Years Ended

(In thousands, except ratio)

  December 25,
2005

  December 26,
2004

  December 28,
2003

  December 29,
2002

  December 30,
2001


Earnings from continuing operations before fixed charges                              
Income from continuing operations before income taxes, minority interest and income/loss from joint ventures   $ 436,053   $ 476,405   $ 508,070   $ 504,433   $ 332,204
Distributed earnings from less than fifty-percent owned affiliates     9,132     14,990     9,299     6,459     14,859
   
 
 
 
 
Adjusted pre-tax earnings from continuing operations     445,185     491,395     517,369     510,892     347,063
Fixed charges less capitalized interest     65,566     55,151     57,752     60,023     64,069
   
 
 
 
 
Earnings from continuing operations before fixed charges   $ 510,751   $ 546,546   $ 575,121   $ 570,915   $ 411,132
   
 
 
 
 
Fixed charges                              
Interest expenses, net of capitalized interest   $ 53,630   $ 44,191   $ 46,704   $ 48,697   $ 51,405
Capitalized interest     11,155     7,181     4,501     1,662     459
Portion of rentals representative of interest factor     11,936     10,960     11,048     11,326     12,664
   
 
 
 
 
Total fixed charges   $ 76,721   $ 62,332   $ 62,253   $ 61,685   $ 64,528
   
 
 
 
 
Ratio of earnings to fixed charges     6.66     8.77     9.24     9.26     6.37
   
 
 
 
 
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 Annual Report on Form 10-K.