VIACOM INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS
(In millions except ratios)
| Nine Months Ended September 30, | Full Year | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2004 | 2003 | 2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||
Earnings (loss) before income taxes | $ | 3,280.1 | $ | 2,787.8 | $ | 3,739.4 | $ | 3,420.9 | $ | 1,073.2 | $ | 592.4 | $ | 768.3 | |||||||||
Add: | |||||||||||||||||||||||
Distributions from affiliated companies | 18.3 | 33.4 | 37.7 | 39.7 | 55.6 | 48.3 | 25.9 | ||||||||||||||||
Interest expense, net of capitalized interest | 553.5 | 589.0 | 774.9 | 847.2 | 968.6 | 821.8 | 448.9 | ||||||||||||||||
Capitalized interest amortized | — | — | — | — | — | 2.2 | 5.7 | ||||||||||||||||
1/3 of rental expense | 166.3 | 159.9 | 146.4 | 141.2 | 170.7 | 124.9 | 51.7 | ||||||||||||||||
Total Earnings | $ | 4,018.2 | $ | 3,570.1 | $ | 4,698.4 | $ | 4,449.0 | $ | 2,268.1 | $ | 1,589.6 | $ | 1,300.5 | |||||||||
Fixed charges: | |||||||||||||||||||||||
Interest expense, net of capitalized interest | $ | 553.5 | $ | 589.0 | $ | 774.9 | $ | 847.2 | $ | 968.6 | $ | 821.8 | $ | 448.9 | |||||||||
1/3 of rental expense | 166.3 | 159.9 | 146.4 | 141.2 | 170.7 | 124.9 | 51.7 | ||||||||||||||||
Total fixed charges | $ | 719.8 | $ | 748.9 | $ | 921.3 | $ | 988.4 | $ | 1,139.3 | $ | 946.7 | $ | 500.6 | |||||||||
Preferred Stock dividend requirements | — | — | — | — | — | — | 0.8 | ||||||||||||||||
Total fixed charges and Preferred Stock dividend requirements | $ | 719.8 | $ | 748.9 | $ | 921.3 | $ | 988.4 | $ | 1,139.3 | $ | 946.7 | $ | 501.4 | |||||||||
Ratio of earnings to fixed charges | 5.6 | x | 4.8 | x | 5.1 | x | 4.5 | x | 2.0 | x | 1.7 | x | 2.6 | x | |||||||||
Ratio of earnings to combined fixed charges and Preferred Stock dividend requirements | 5.6 | x | 4.8 | x | 5.1 | x | 4.5 | x | 2.0 | x | 1.7 | x | 2.6 | x | |||||||||
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