Exhibit 12.1
Twenty-First Century Fox, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in Millions, Except Ratio Amounts)
(Unaudited)
For the three months ended September 30, 2014 | For the fiscal years ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax expense | $ | 1,603 | $ | 5,189 | $ | 8,736 | $ | 4,463 | $ | 3,098 | $ | 2,762 | ||||||||||||
Add: | ||||||||||||||||||||||||
Equity earnings of affiliates | (379 | ) | (622 | ) | (655 | ) | (636 | ) | (352 | ) | (353 | ) | ||||||||||||
Dividends received from affiliates | 3 | 358 | 324 | 281 | 252 | 239 | ||||||||||||||||||
Fixed charges, excluding capitalized interest | 341 | 1,267 | 1,217 | 1,186 | 1,125 | 1,163 | ||||||||||||||||||
Amortization of capitalized interest | 10 | 40 | 42 | 37 | 44 | 62 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | 1,578 | $ | 6,232 | $ | 9,664 | $ | 5,331 | $ | 4,167 | $ | 3,873 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest on debt and finance lease charges | $ | 305 | $ | 1,121 | $ | 1,063 | $ | 1,032 | $ | 962 | $ | 999 | ||||||||||||
Capitalized interest | 5 | 28 | 41 | 42 | 44 | 44 | ||||||||||||||||||
Interest element on rental expense | 36 | 146 | 154 | 154 | 163 | 164 | ||||||||||||||||||
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Total fixed charges | $ | 346 | $ | 1,295 | $ | 1,258 | $ | 1,228 | $ | 1,169 | $ | 1,207 | ||||||||||||
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Ratio of earnings to fixed charges | 4.6 | 4.8 | 7.7 | 4.3 | 3.6 | 3.2 | ||||||||||||||||||
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