EX-12.1 381 d81696dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TRIBUNE MEDIA COMPANY

Computation of Ratio of Earnings to Fixed Charges

(In thousands of dollars)

 

     Successor              Predecessor  
     Year Ended                     Year Ended  
     December 31,
2015
    December 28,
2014
    December 29,
2013
             December 31,
2012
     December 30,
2012
    December 25,
2011
 

Fixed Charges

                   

Interest expense

   $ 152,172      $ 151,270      $ 46,307            $ —         $ 193      $ 471   

Amortization of debt issuance costs and original issue discount

     12,258        13,433        3,869              —           —          —     

Portion of rental expense which represents interest factor

     10,099        20,654        25,808              —           11,648        12,306   
  

 

 

   

 

 

   

 

 

         

 

 

    

 

 

   

 

 

 

Total Fixed Charges

   $ 174,529      $ 185,357      $ 75,984            $ —         $ 11,841      $ 12,777   
  

 

 

   

 

 

   

 

 

         

 

 

    

 

 

   

 

 

 

Earnings

                   

(Loss) income from continuing operations before income taxes

   $ (297,595   $ 741,810      $ 258,907            $ 8,284,314       $ 266,730      $ 330,037   

Less: Income on equity investments, net

     (146,959     (236,713     (145,241           —           (198,690     (187,473

Add: Fixed charges

     174,529        185,357        75,984              —           11,841        12,777   

Add: Distributed income of equity investees

     169,879        189,789        154,123              —           118,383        71,021   
  

 

 

   

 

 

   

 

 

         

 

 

    

 

 

   

 

 

 

Total (Loss) Earnings

   $ (100,146   $ 880,243      $ 343,773            $ 8,284,314       $ 198,264      $ 226,362   
  

 

 

   

 

 

   

 

 

         

 

 

    

 

 

   

 

 

 

Ratio of Earnings To Fixed Charges

     *        4.7        4.5              N/A         16.7        17.7   

 

* The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2015 as earnings were inadequate to cover fixed charges by $275 million.