Exhibit 12.1
News Corporation
Computation of Ratio of Earnings to Fixed Charges
(in Millions, Except Ratio Amounts)
(Unaudited)
For the nine months ended March 31, | ||||||||
2010 | 2009 | |||||||
Earnings: | ||||||||
Income before income (loss) tax expense | $ | 2,419 | $ | (5,563 | ) | |||
Add: | ||||||||
Equity (earnings) losses from affiliates | (271 | ) | 369 | |||||
Dividends received from affiliates | 190 | 157 | ||||||
Fixed charges, excluding capitalized interest | 931 | 892 | ||||||
Amortization of capitalized interest | 60 | 35 | ||||||
Total earnings available for fixed charges | $ | 3,329 | $ | (4,110 | ) | |||
Fixed charges: | ||||||||
Interest on debt and finance lease charges | $ | 761 | $ | 690 | ||||
Capitalized interest | 35 | 45 | ||||||
Interest element on rental expense | 170 | 202 | ||||||
Total fixed charges | $ | 966 | $ | 937 | ||||
Ratio of earnings to fixed charges | 3.5 | * | * | |||||
** | Earnings did not cover fixed charges by $5.0 billion during the nine months ended March 31, 2009 due to a non-cash impairment charge of $8.4 billion ($6.7 billion net of tax). (See Note 8 to the accompanying unaudited consolidated financial statements for further discussion) |