The New York Times Company (NYT) 10-Q 2003 Q2 Quarterly report

EXHIBIT 12

THE NEW YORK TIMES COMPANY
Ratio of Earnings to Fixed Charges
(Dollars in thousands, except ratios)
(Unaudited)

				For the Six Months Ended June 29, 2003				For the Years Ended
(In thousands, except ratio)								December 29, 2002				December 30, 2001				December 31, 2000				December 26, 1999				December 27, 1998
Earnings from continuing operations before fixed charges
Income before income taxes and income/loss from joint ventures				$	239,843			$	504,433			$	332,204			$	637,830			$	501,912			$	454,423
Distributed earnings from less than fifty-percent owned affiliates					4,101				6,459				14,859				19,375				13,061				18,192
Adjusted pre-tax earnings from continuing operations					243,944				510,892				347,063				657,205				514,973				472,615
Fixed charges less capitalized interest					29,745				60,023				64,069				80,876				63,313				56,029
Earnings from continuing operations before fixed charges				$	273,689			$	570,915			$	411,132			$	738,081			$	578,286			$	528,644
Fixed charges
Interest expense, net of capitalized interest				$	24,218			$	48,697			$	51,405			$	68,566			$	52,503			$	46,927
Capitalized interest					1,917				1,662				459				—				—				173
Portion of rentals representative of interest factor					5,527				11,326				12,664				12,310				10,810				9,102
Total fixed charges				$	31,662			$	61,685			$	64,528			$	80,876			$	63,313			$	56,202
Ratio of earnings to fixed charges					8.64				9.26				6.37				9.13				9.13				9.41

Note: The Ratio of Earnings to Fixed Charges should be read in conjunction with this Form 10-Q, as well as the Company's Form 10-K for the period ended December 29, 2002.