EX-12 2 a07-2276_4ex12.htm EX-12

EXHIBIT 12

The New York Times Company Ratio of Earnings to Fixed Charges (Unaudited)

    For the Years Ended  
(In thousands, except ratio)   December 31,
2006
  December 25,
2005
(Restated)
  December 26,
2004
(Restated)
  December 28,
2003
(Restated)
  December 29,
2002
(Restated)
 
Earnings from continuing
operations before fixed charges
 
(Loss)/income from continuing operations
before income taxes and income/loss
from joint ventures
  $ (571,262 )   $ 397,495     $ 429,065     $ 464,851     $ 452,517    
Distributed earnings from less than
fifty-percent owned affiliates
    13,375       9,132       14,990       9,299       6,459    
Adjusted pre-tax earnings from
continuing operations
    (557,887 )     406,627       444,055       474,150       458,976    
Fixed charges less capitalized interest     69,245       64,648       54,222       56,886       59,225    
Earnings from continuing operations
before fixed charges
  $ (488,642 )   $ 471,275     $ 498,277     $ 531,036     $ 518,201    
Fixed charges  
Interest expenses, net of
capitalized interest
  $ 58,581     $ 53,630     $ 44,191     $ 46,704     $ 48,697    
Capitalized interest     14,931       11,155       7,181       4,501       1,662    
Portion of rentals representative
of interest factor
    10,664       11,018       10,031       10,182       10,528    
Total fixed charges   $ 84,176     $ 75,803     $ 61,403     $ 61,387     $ 60,887    
Ratio of earnings to fixed charges(*)           6.22       8.11       8.65       8.51    

 

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.

(*)  Earnings were inadequate to cover fixed charges by $573 million for the year ended December 31, 2006, as a result of a non-cash impairment charge of $814.4 million ($735.9 million after tax).

P.120 2006 ANNUAL REPORT