Warner Bros. Discovery (WBD) 8-K Other Events

Exhibit 12.1

DISCOVERY COMMUNICATIONS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions, except ratio amounts)

	Actual
	Three months ended				For the Year Ended December 31,
	March 31, 2012		2011		2010		2009(1)		2008(1)		2007(2)
							(recast)		(recast)
Earnings:
Net income from continuing operations	$	222	$	1,134	$	647	$	570	$	404	$	86
Add:
Provision for income taxes		119		425		288		469		353		56
(Earnings) loss of equity investees		48		35		57		24		65		(142	)
Distributions of income from equity investees		10		30		15		4		4		—
Total interest expense		55		211		207		249		258		—
Portion of rents representative of the interest factor		6		26		28		27		46		11
Earnings, as adjusted	$	460	$	1,861	$	1,242	$	1,343	$	1,130	$	11
Fixed charges:
Total interest expense	$	55	$	211	$	207	$	249	$	258	$	—
Portion of rents representative of the interest factor		6		26		28		27		46		11
Total fixed charges	$	61	$	237	$	235	$	276	$	304	$	11
Ratio of earnings to fixed charges		7.5		7.9		5.3		4.9		3.7		1.0

(1) The 2009 and 2008 financial information has been recast so that the basis of presentation is consistent with that of the 2010 and 2011 financial information. This recast reflects (i) the adoption of accounting guidance that amends the model for determining whether an entity should consolidate a variable interest entity, which resulted in the deconsolidation of the Oprah Winfrey Network and Animal Planet Japan and (ii) the results of operations of the Antenna Audio business as discontinued operations.

(2) The results for 2007 reflect only the results of Discovery Communications Inc.’s predecessor, Discovery Holding Company.