EX-12 2 a05-14166_1ex12.htm EX-12

EXHIBIT 12

 

THE NEW YORK TIMES COMPANY

Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

 

For the

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months

 

For the Years Ended

 

 

 

Ended

 

December 26,

 

December 28,

 

December 29,

 

December 30,

 

December 31,

 

(Dollars in thousands, except ratios)

 

June 26, 2005

 

2004

 

2003

 

2002

 

2001

 

2000

 

Earnings from continuing operations before fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes, minority interest and income/loss from joint ventures

 

$

291,022

 

$

476,405

 

$

508,070

 

$

504,433

 

$

332,204

 

$

637,830

 

Distributed earnings from less than fifty- percent owned affiliates

 

2,500

 

14,990

 

9,299

 

6,459

 

14,859

 

19,375

 

Adjusted pre-tax earnings from continuing operations

 

293,522

 

491,395

 

517,369

 

510,892

 

347,063

 

657,205

 

Fixed charges less capitalized interest

 

34,099

 

55,151

 

57,752

 

60,023

 

64,069

 

80,876

 

Earnings from continuing operations before fixed charges

 

$

327,621

 

$

546,546

 

$

575,121

 

$

570,915

 

$

411,132

 

$

738,081

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

$

27,832

 

$

44,191

 

$

46,704

 

$

48,697

 

$

51,405

 

$

68,566

 

Capitalized interest

 

4,943

 

7,181

 

4,501

 

1,662

 

459

 

—

 

Portion of rentals representative of interest factor

 

6,267

 

10,960

 

11,048

 

11,326

 

12,664

 

12,310

 

Total fixed charges

 

$

39,042

 

$

62,332

 

$

62,253

 

$

61,685

 

$

64,528

 

$

80,876

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

8.39

 

8.77

 

9.24

 

9.26

 

6.37

 

9.13

 

 

Note:

The Ratio of Earnings to Fixed Charges should be read in conjunction with this Quarterly Report on Form 10-Q, as well as the Company’s Annual Report on Form 10-K for the year ended December 26, 2004.