EX-12 2 a06-15582_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

 

(Dollars in thousands, except ratios)

 

Ended
June 25, 2006

 

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

 

$

141,591

 

$

436,053

 

$

476,405

 

$

508,070

 

$

504,433

 

$

332,204

 

Distributed earnings from less than fifty-percent owned affiliates

 

4,066

 

9,132

 

14,990

 

9,299

 

6,459

 

14,859

 

Adjusted pre-tax earnings from continuing operations

 

145,657

 

445,185

 

491,395

 

517,369

 

510,892

 

347,063

 

Fixed charges less capitalized interest

 

35,732

 

65,566

 

55,151

 

57,752

 

60,023

 

64,069

 

Earnings from continuing operations before fixed charges

 

$

181,389

 

$

510,751

 

$

546,546

 

$

575,121

 

$

570,915

 

$

411,132

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

$

29,961

 

$

53,630

 

$

44,191

 

$

46,704

 

$

48,697

 

$

51,405

 

Capitalized interest

 

6,018

 

11,155

 

7,181

 

4,501

 

1,662

 

459

 

Portion of rentals representative of interest factor

 

5,771

 

11,936

 

10,960

 

11,048

 

11,326

 

12,664

 

Total fixed charges

 

$

41,750

 

$

76,721

 

$

62,332

 

$

62,253

 

$

61,685

 

$

64,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.34

 

6.66

 

8.77

 

9.24

 

9.26

 

6.37

 

 

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 25, 2005.