Twenty-First Century Fox (TFCF) 10-Q 2018 Q3 Quarterly report

Exhibit 12.1

Twenty-First Century Fox, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in Millions, Except Ratio Amounts)

(Unaudited)

	For the nine months ended March 31,
	2018		2017
Earnings
Income from continuing operations before income tax benefit (expense)	$	3,329	$	3,874
Add
Equity losses of affiliates		59		57
Cash distributions received from affiliates		110		182
Fixed charges, excluding capitalized interest		1,016		969
Amortization of capitalized interest		17		19
Total earnings available for fixed charges	$	4,531	$	5,101
Fixed charges
Interest on debt and finance lease charges	$	936	$	909
Capitalized interest		28		14
Interest element on rental expense		80		60
Total fixed charges	$	1,044	$	983
Ratio of earnings to fixed charges		4.3		5.2