EX-12.2 5 dex122.txt RATIO OF EARNINGS TO FIXED CHARGES OF THE NEWS CORP. LIMITED-US-GAAP Exhibit 12.2 The News Corporation Limited Computation of Ratio of Earnings to Fixed Charges (in accordance with US-GAAP)
FOR THE SIX MONTHS ENDED FOR THE YEARS DECEMBER 31, ENDED JUNE 30, ------------ -------------------------- 2002 2002 2001 ------------ ---------- ---------- (A$ in millions) EARNINGS: Pretax income from continuing operations (before minority interest) 1,000 (13,620) (184) ADDBACK: Dividends received (distributed earnings) of less than 50% owned companies 13 24 11 Amortization of capitalized interest 33 67 55 Fixed charges (exclusive of capitalized interest) 570 1,369 1,479 ------------ ---------- ---------- Subtotal Earnings 1,616 (12,160) 1,361 LESS: Undistributed earnings of less than 50% owned companies (113) (49) (117) ------------ ---------- ---------- Earnings available for Fixed Charges 1,503 (12,209) 1,244 ============ ========== ========== FIXED CHARGES: Interest on debt 555 1,336 1,440 Finance lease charges 1 1 2 Capitalized interest 21 43 119 Interest expense of greater than or equal to 50% owned companies 2 7 9 Capitalized interest of greater than or equal to 50% owned companies -- 1 -- Interest element of rental expense 12 25 29 ------------ ---------- ---------- Total Fixed Charges 591 1,413 1,599 ============ ========== ========== Ratio of Earnings to Fixed Charges 2.5 -- -- ============ ========== ========== FOR THE YEARS ENDED JUNE 30, -------------------------------------- 2000 1999 1998 ---------- ---------- ---------- (A$ in millions) EARNINGS: Pretax income from continuing operations (before minority interest) 1,668 1,957 842 ADDBACK: Dividends received (distributed earnings) of less than 50% owned companies 53 120 106 Amortization of capitalized interest 51 53 54 Fixed charges (exclusive of capitalized interest) 1,439 1,530 1,398 ---------- ---------- ---------- Subtotal Earnings 3,211 3,660 2,400 LESS: Undistributed earnings of less than 50% owned companies (167) (67) (172) ---------- ---------- ---------- Earnings available for Fixed Charges 3,044 3,593 2,228 ========== ========== ========== FIXED CHARGES: Interest on debt 1,259 1,217 1,110 Finance lease charges 4 6 6 Capitalized interest 83 93 95 Interest expense of greater than or equal to 50% owned companies 52 184 167 Capitalized interest of greater than or equal to 50% owned companies 8 -- -- Interest element of rental expense 123 123 114 ---------- ---------- ---------- Total Fixed Charges 1,529 1,623 1,492 ========== ========== ========== Ratio of Earnings to Fixed Charges 2.0 2.2 1.5 ========== ========== ==========