The New York Times Company (NYT) 10-Q 2003 Q3 Quarterly report

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EXHIBIT 12

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

	For the Nine Months Ended September 28, 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	$	322,692	$	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		326,793		510,892		347,063		657,205		514,973		472,615
Fixed charges less capitalized interest		44,232		60,023		64,069		80,876		63,313		56,029
Earnings from continuing operations before fixed charges	$	371,025	$	570,915	$	411,132	$	738,081	$	578,286	$	528,644
Fixed charges
Interest expense, net of capitalized interest	$	35,914	$	48,697	$	51,405	$	68,566	$	52,503	$	46,927
Capitalized interest		3,174		1,662		459		—		—		173
Portion of rentals representative of interest factor		8,318		11,326		12,664		12,310		10,810		9,102
Total fixed charges	$	47,406	$	61,685	$	64,528	$	80,876	$	63,313	$	56,202
Ratio of earnings to fixed charges		7.83		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.

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EXHIBIT 12

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