Exhibit 12.1
Twenty-First Century Fox, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in Millions, Except Ratio Amounts)
(Unaudited)
For the six months ended December 31, 2016 | For the fiscal years ended June 30, | |||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax expense | $ | 2,622 | $ | 4,154 | $ | 9,847 | $ | 5,189 | $ | 8,736 | $ | 4,463 | ||||||||||||
Add: | ||||||||||||||||||||||||
Equity losses (earnings) of affiliates | 6 | 34 | (904 | ) | (622 | ) | (655 | ) | (636 | ) | ||||||||||||||
Cash distributions received from affiliates | 184 | 351 | 352 | 358 | 324 | 281 | ||||||||||||||||||
Fixed charges, excluding capitalized interest | 638 | 1,264 | 1,303 | 1,267 | 1,217 | 1,186 | ||||||||||||||||||
Amortization of capitalized interest | 15 | 26 | 30 | 40 | 42 | 37 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | 3,465 | $ | 5,829 | $ | 10,628 | $ | 6,232 | $ | 9,664 | $ | 5,331 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest on debt and finance lease charges | $ | 599 | $ | 1,184 | $ | 1,198 | $ | 1,121 | $ | 1,063 | $ | 1,032 | ||||||||||||
Capitalized interest | 9 | 24 | 26 | 28 | 41 | 42 | ||||||||||||||||||
Interest element on rental expense | 39 | 80 | 105 | 146 | 154 | 154 | ||||||||||||||||||
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Total fixed charges | $ | 647 | $ | 1,288 | $ | 1,329 | $ | 1,295 | $ | 1,258 | $ | 1,228 | ||||||||||||
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Ratio of earnings to fixed charges | 5.4 | 4.5 | 8.0 | 4.8 | 7.7 | 4.3 | ||||||||||||||||||
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