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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, |
| |||||
|
| 2015 |
|
| 2014 |
| ||
Earnings: |
|
|
|
|
|
|
|
|
Income from continuing operations before income tax expense |
| $ | 1,053 |
|
| $ | 1,603 |
|
Add: |
|
|
|
|
|
|
|
|
Equity earnings of affiliates |
|
| (35 | ) |
|
| (379 | ) |
Cash distributions received from affiliates |
|
| 6 |
|
|
| 3 |
|
Fixed charges, excluding capitalized interest |
|
| 315 |
|
|
| 341 |
|
Amortization of capitalized interest |
|
| 6 |
|
|
| 10 |
|
|
|
|
|
|
|
|
|
|
Total earnings available for fixed charges |
| $ | 1,345 |
|
| $ | 1,578 |
|
|
|
|
|
|
|
|
|
|
Fixed charges: |
|
|
|
|
|
|
|
|
Interest on debt and finance lease charges |
| $ | 295 |
|
| $ | 305 |
|
Capitalized interest |
|
| 3 |
|
|
| 5 |
|
Interest element on rental expense |
|
| 20 |
|
|
| 36 |
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
| $ | 318 |
|
| $ | 346 |
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
| 4.2 |
|
|
| 4.6 |
|