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THE NEW YORK TIMES COMPANY
Ratio of Earnings to Fixed Charges
(Dollars in thousands, except ratios)
(Unaudited)
| | For the Years Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the Quarter Ended March 27, 2005 | |||||||||||||||||
| December 26, 2004 | December 28, 2003 | December 29, 2002 | December 30, 2001 | December 31, 2000 | |||||||||||||
| (In thousands, except ratio) | |||||||||||||||||
Earnings from continuing operations before fixed charges | ||||||||||||||||||
Income from continuing operations before income taxes, minority interest and income/loss from joint ventures | $ | 195,074 | $ | 476,405 | $ | 508,070 | $ | 504,433 | $ | 332,204 | $ | 637,830 | ||||||
Distributed earnings from less than fifty-percent owned affiliates | — | 14,990 | 9,299 | 6,459 | 14,859 | 19,375 | ||||||||||||
Adjusted pre-tax earnings from continuing operations | 195,074 | 491,395 | 517,369 | 510,892 | 347,063 | 657,205 | ||||||||||||
Fixed charges less capitalized interest | 17,770 | 55,151 | 57,752 | 60,023 | 64,069 | 80,876 | ||||||||||||
Earnings from continuing operations before fixed charges | $ | 212,844 | $ | 546,546 | $ | 575,121 | $ | 570,915 | $ | 411,132 | $ | 738,081 | ||||||
Fixed charges | ||||||||||||||||||
Interest expense, net of capitalized interest | $ | 15,092 | $ | 44,191 | $ | 46,704 | $ | 48,697 | $ | 51,405 | $ | 68,566 | ||||||
Capitalized interest | 2,489 | 7,181 | 4,501 | 1,662 | 459 | — | ||||||||||||
Portion of rentals representative of interest factor | 2,678 | 10,960 | 11,048 | 11,326 | 12,664 | 12,310 | ||||||||||||
Total fixed charges | $ | 20,259 | $ | 62,332 | $ | 62,253 | $ | 61,685 | $ | 64,528 | $ | 80,876 | ||||||
Ratio of earnings to fixed charges | 10.51 | 8.77 | 9.24 | 9.26 | 6.37 | 9.13 | ||||||||||||
- Note:
- The Ratio of Earnings to Fixed Charges should be read in conjunction with this Quarterly Report on Form 10-Q, as well as the Company's Annual Report on Form 10-K for the year ended December 26, 2004.
THE NEW YORK TIMES COMPANY Ratio of Earnings to Fixed Charges (Dollars in thousands, except ratios) (Unaudited)