EX-12 12 a06-19898_1ex12.htm EX-12

EXHIBIT 12

THE NEW YORK TIMES COMPANY

Ratio of Earnings to Fixed Charges

(Unaudited)

(Dollars in thousands, except ratios)

 

For the 
Nine Months 
Ended
September 24, 
2006

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended

 

December 25, 

 

December 26, 

 

December 28, 

 

December 29, 

 

December 30, 

 

2005

 

2004

 

2003

 

2002

 

2001

 

Earnings from continuing operations before fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

135,918

 

$

408,910

 

$

438,022

 

$

479,429

 

$

462,669

 

$

304,139

 

Distributed earnings from less than fifty-percent owned affiliates

 

10,507

 

9,132

 

14,990

 

9,299

 

6,459

 

14,859

 

Adjusted pre-tax earnings from continuing operations

 

146,425

 

418,042

 

453,012

 

488,728

 

469,128

 

318,998

 

Fixed charges less capitalized interest

 

53,074

 

64,648

 

54,222

 

56,886

 

59,225

 

63,461

 

Earnings from continuing operations before fixed charges

 

$

199,499

 

$

482,690

 

$

507,234

 

$

545,614

 

$

528,353

 

$

382,459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

$

45,103

 

$

53,630

 

$

44,191

 

$

46,704

 

$

48,697

 

$

51,405

 

Capitalized interest

 

9,876

 

11,155

 

7,181

 

4,501

 

1,662

 

459

 

Portion of rentals representative of interest factor

 

7,971

 

11,018

 

10,031

 

10,182

 

10,528

 

12,056

 

Total fixed charges

 

$

62,950

 

$

75,803

 

$

61,403

 

$

61,387

 

$

60,887

 

$

63,920

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.17

 

6.37

 

8.26

 

8.89

 

8.68

 

5.98

 

 

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.