Exhibit 12.1
TEGNA INC.
RATIO OF EARNINGS TO FIXED CHARGES
In Millions, except ratio amounts
(unaudited)
| Year Ended | ||||||||||||||||||||
| Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 28, 2014 | Dec. 29, 2013 | ||||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||
Income from Continued Operations, before income taxes, as reported | $ | 311 | $ | 449 | $ | 346 | $ | 210 | $ | (10 | ) | |||||||||
Add : Noncontrolling interest and income from unconsolidated | (10 | ) | 3 | 3 | 3 | 3 | ||||||||||||||
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Income from operations, before income taxes, as adjusted | 301 | 452 | 349 | 213 | (7 | ) | ||||||||||||||
Add : Fixed Charges | 215 | 238 | 279 | 277 | 179 | |||||||||||||||
Add: Distributed income of equity investees | 21 | — | — | — | — | |||||||||||||||
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Total Earnings available for fixed charges | $ | 537 | $ | 690 | $ | 628 | $ | 490 | $ | 172 | ||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest on indebtedness, net of capitalized interest | $ | 210 | $ | 232 | $ | 274 | $ | 273 | $ | 176 | ||||||||||
Portion of rents representative of interest factor | 5 | 6 | 5 | 4 | 3 | |||||||||||||||
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Total fixed charges | $ | 215 | $ | 238 | $ | 279 | $ | 277 | $ | 179 | ||||||||||
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Ratio of earnings to fixed charges (A) | 2.50 | 2.90 | 2.25 | 1.77 | (B | ) | ||||||||||||||
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| (A) | Interest expense related to unrecognized tax benefits is recorded as a component of income tax expense and is excluded from both fixed charges and pretax income. |
| (B) | Earnings for the year ended December 31, 2013 were inadequate to cover fixed charges by approximately $6.8 million. |
