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Content analysis
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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 six months ended December 31, |
| |||||
|
| 2017 |
|
| 2016 |
| ||
Earnings |
|
|
|
|
|
|
|
|
Income from continuing operations before income tax benefit (expense) |
| $ | 1,998 |
|
| $ | 2,622 |
|
Add |
|
|
|
|
|
|
|
|
Equity (earnings) losses of affiliates |
|
| (27 | ) |
|
| 6 |
|
Cash distributions received from affiliates |
|
| 11 |
|
|
| 184 |
|
Fixed charges, excluding capitalized interest |
|
| 674 |
|
|
| 638 |
|
Amortization of capitalized interest |
|
| 13 |
|
|
| 15 |
|
|
|
|
|
|
|
|
|
|
Total earnings available for fixed charges |
| $ | 2,669 |
|
| $ | 3,465 |
|
|
|
|
|
|
|
|
|
|
Fixed charges |
|
|
|
|
|
|
|
|
Interest on debt and finance lease charges |
| $ | 625 |
|
| $ | 599 |
|
Capitalized interest |
|
| 14 |
|
|
| 9 |
|
Interest element on rental expense |
|
| 49 |
|
|
| 39 |
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
| $ | 688 |
|
| $ | 647 |
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
| 3.9 |
|
|
| 5.4 |
|