EX-12 2 a2157592zex-12.htm EXHIBIT 12

Exhibit 12


VIACOM INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS

(Tabualar in millions except ratios)

 
   Three Months Ended
March 31,
   Twelve Months Ended December 31,
 
   2005
   2004
   2004
   2003
   2002
   2001
   2000
Earnings (loss) before income taxes   $ 980.9   $ 868.8   $ (13,655.0 ) $ 3,739.4   $ 3,420.9   $ 1,073.2   $ 592.4
Add:                                          
  Distributions from affiliated companies     2.6     3.0     28.9     37.7     39.7     55.6     48.3
  Interest expense, net of capitalized interest     182.1     184.3     744.4     774.9     847.2     968.6     821.8
  Capitalized interest amortized     —     —     —     —     —     —     2.2
  1/3 of rental expense     58.6     54.9     158.9     146.4     141.2     170.7     124.9
   
 
 
 
 
 
 
Total Earnings (loss)   $ 1,224.2   $ 1,111.0   $ (12,722.8 ) $ 4,698.4   $ 4,449.0   $ 2,268.1   $ 1,589.6
   
 
 
 
 
 
 
Fixed charges:                                          
  Interest expense, net of capitalized interest   $ 182.1   $ 184.3   $ 744.4   $ 774.9   $ 847.2   $ 968.6   $ 821.8
  1/3 of rental expense     58.6     54.9     158.9     146.4     141.2     170.7     124.9
   
 
 
 
 
 
 
Total fixed charges   $ 240.7   $ 239.2   $ 903.3   $ 921.3   $ 988.4   $ 1,139.3   $ 946.7
Preferred Stock dividend requirements     —     1.0     —     —     —     —     —
   
 
 
 
 
 
 
Total fixed charges and Preferred Stock dividend requirements   $ 240.7   $ 240.2   $ 903.3   $ 921.3   $ 988.4   $ 1,139.3   $ 946.7
   
 
 
 
 
 
 
Ratio of earnings to fixed charges     5.1x     4.6x     Note a     5.1x     4.5x     2.0x     1.7x
   
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and Preferred Stock dividend requirements     5.1x     4.6x     Note a     5.1x     4.5x     2.0x     1.7x
   
 
 
 
 
 
 

Note:

(a)
Earnings are inadequate to cover fixed charges due to the 2004 non-cash impairment charge of $18.0 billion. The dollar amount of the cover deficiency is $13.6 billion in 2004.