Exhibit 12
COMCAST CABLE COMMUNICATIONS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
THREE MONTHS ENDED MARCH 31, YEARS ENDED DECEMBER 31,
--------------------------------- ----------------------------------------------------
1996 1996
-------------------- ---------------------
PRO PRO
1997 FORMA (1) ACTUAL FORMA (1) ACTUAL 1995 1994 1993
--------- ------------- -------- ------------ ------- ------- ------ ------
Earnings (loss) before fixed charges
(2):
Loss before extraordinary items and
cumulative effect of accounting
changes........................... ($29.2) ($29.0) ($10.7) ($85.7) ($22.6) ($48.9) ($23.0) ($6.4)
Income tax (benefit) expense........ (9.3) (13.0) (4.1) (32.7) (4.5) (24.9) (1.8) 23.5
Equity in net loss of affiliate.....
Fixed charges....................... 65.8 65.3 65.3 260.5 260.5 273.8 176.5 181.3
-------- --------- --------- --------- ------- ------- ------- -------
$27.3 $23.3 $50.5 $142.1 $233.4 $200.0 $151.7 $198.4
-------- --------- --------- --------- ------- ------- ------- -------
-------- --------- --------- --------- ------- ------- ------- -------
Fixed charges (2):
Interest expense and preferred stock
dividend requirements............. $56.7 $56.7 $56.7 $228.4 $228.4 $245.6 $155.6 $162.2
Interest expense on notes payable to
affiliates........................ 9.1 8.6 8.6 32.1 32.1 28.2 20.9 19.1
-------- --------- --------- --------- ------- ------- ------- -------
$65.8 $65.3 $65.3 $260.5 $260.5 $273.8 $176.5 $181.3
-------- --------- --------- --------- ------- ------- ------- -------
-------- --------- --------- --------- ------- ------- ------- -------
Ratio of earnings to fixed charges
(3)............................... -- -- -- -- -- -- -- 1.1
1992
--------
Earnings (loss) before fixed charges
(2):
Loss before extraordinary items and
cumulative effect of accounting
changes........................... ($174.0)
Income tax (benefit) expense........ 12.3
Equity in net loss of affiliate..... 78.0
Fixed charges....................... 172.6
---------
$88.9
---------
---------
Fixed charges (2):
Interest expense and preferred stock
dividend requirements............. $154.1
Interest expense on notes payable to
affiliates........................ 18.5
---------
$172.6
---------
---------
Ratio of earnings to fixed charges
(3)............................... --
- ------------------------
(1) Pro forma ratio of earnings to fixed charges information is presented as if
the Scripps Acquisition (as defined herein) occurred on January 1, 1996.
(2) For the purpose of calculating the ratio of earnings to fixed charges,
earnings consist of income (loss) before extraordinary items, cumulative
effect of accounting changes, income tax expense (benefit), equity in net
loss of affiliate (1992 only) and fixed charges. Fixed charges consist of
interest expense, interest expense on notes payable to affiliates and
preferred stock dividend requirements of a subsidiary to an affiliate (1992
only).
(3) For the three months ended March 31, 1997 and 1996, earnings, as defined
above, were inadequate to cover fixed charges by $38.5 million and $14.8
million, respectively. On a pro forma basis, for the three months ended
March 31, 1996 and for the year ended December 31, 1996, earnings, as
defined above, were inadequate to cover fixed charges by $42.0 million and
$118.4 million, respectively. For the years ended December 31, 1996, 1995,
1994 and 1992, earnings, as defined above, were inadequate to cover fixed
charges by $27.1 million, $73.8 million, $24.8 million and $83.7 million,
respectively.
2