Mcclatchy (MNIQQ) 10-K2013 FY Annual report

Filed: 6 Mar 14, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Good

New words: airline, Android, AOCL, appeal, arrangement, assigned, assignment, ASU, attack, basket, bought, bring, bus, choosing, complexity, conflict, damaged, Dow, drawn, employed, enhance, esteemed, exceed, flat, flexible, forecasted, forfeiture, fulfill, handheld, hospital, hub, introduction, IRS, iv, Las, medium, merchandise, mid, minimize, minimizing, Morning, ofThe, OperationsMinimum, opportunity, people, proceed, prove, psychiatric, redesigned, relaunched, remedy, shipping, shortly, step, tailoring, theMiami, theRecent, track, undeveloped, undisclosed, unfavorable, vendor, wider, withThe

Removed: Additionally, amending, amendment, August, authoritative, automatically, backed, book, borrowing, breaking, certainty, civil, clarified, corporation, corrected, COSO, cut, cycled, decreasing, difficult, discontinued, discover, divested, eliminate, entertainment, focusing, fragment, Gatehouse, hiring, implicit, influenced, instance, intensified, issuing, Knight, lieu, matured, mitigate, Mortgage, newsgathering, nonrefundable, page, post, predict, prepayment, priority, project, projecting, receipt, referenced, repaid, reserve, resolution, rest, restating, restructuring, reversed, Ridder, season, showed, slowdown, stabilize, staffing, sustained, theFort, toxic, variability, vast, Worth

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

MNIQQ similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12

The McClatchy Company

COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO

(in thousands of dollars, except ratio data)

	Year Ended
	December 29,			December 30,			December 25,			December 26,			December 27,
	2013			2012			2011			2010			2009
Fixed Charge Computation
Interest expenses:
Net interest expense	$	135,381		$	151,334		$	165,434		$	177,641		$	127,276
Plus: capitalized interest	798			748			193			101			200
Gross interest	136,179			152,082			165,627			177,742			127,476
Interest on unrecognized tax benefits	735			11,689			5,960			(1,632		)	(920		)
Amortization of debt discount	(6,673		)	(9,821		)	(11,092		)	(11,327		)	(7,442		)
Interest component of rent expense	4,585			5,666			4,509			5,021			5,501
Total fixed charges	$	134,826		$	159,616		$	165,004		$	169,804		$	124,615
Earnings Computation
Income from continuing operations before income taxes	$	32,059		$	(21,526	)	$	62,785		$	38,701		$	83,561
Earnings of equity investments (1)	(42,651		)	(31,935		)	(27,762		)	(11,752		)	(2,130		)
Impairment related charge recorded by equity investee (2)	—			—			—			2,947			2,022
Interest on unrecognized tax benefits	(735		)	(11,689		)	(5,960		)	1,632			920
Distributed income of equity investees	42,436			38,600			31,625			24,274			1,135
Add: fixed charges	134,826			159,616			165,004			169,804			124,615
Less: capitalized interest	(798		)	(748		)	(193		)	(101		)	(200		)
Total earnings as adjusted	$	165,137		$	132,318		$	225,498		$	225,505		$	209,923

Ratio Of Earnings to Fixed Charges	1.22			0.83			1.37			1.33			1.68

(1) The earnings from equity investments in 2012 includes the Company’s portion (approximately $7 million) of an impairment related charge that was recorded by an equity investee.

(2) Reflects the Company’s portion of loss related to an impairment and recorded in “Write-down of investments and land held for sale” in the Consolidated Statement of Income.