EXHIBIT 12.1
VIACOM INTERNATIONAL INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions except ratios)
Three Months Ended
March 31, Year Ended December 31,
1994 1993 1993 1992 1991 1990 1989
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Earnings (loss) before income
taxes $(260.2) $103.8 $303.7 $164.6 $66.3 $(16.0) $266.1
Add:
Distributed income of
affiliated companies 5.0 .6 13.5 9.5 5.6 2.8 4.5
Interest expense, net of
capitalized interest 34.9 40.4 150.7 195.2 252.9 243.3 258.0
Capitalized interest 2.0 .6 2.1 2.4 2.3 2.2 2.3
amortized
1/3 of rental expense 6.3 6.3 24.7 22.6 21.5 18.8 15.5
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Earnings (loss) $(212.0) $151.7 $494.7 $394.3 $348.6 $251.1 $546.4
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Fixed charges:
Interest costs on all
indebtedness $ 35.0 $ 40.5 $151.1 $195.8 $253.5 $244.1 $313.8
1/3 of rental expense 6.3 6.3 24.7 22.6 21.5 18.8 15.5
------- ------ ------ ------ ------ ------ ------
Total fixed charges $ 41.3 $ 46.8 $175.8 $218.4 $275.0 $262.9 $329.3
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Ratio of earnings to
fixed charges Note (a) 3.2X 2.8X 1.8X 1.3X Note (a) 1.7X
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(a) Earnings were inadequate to cover fixed charges; the additional amount
of earnings required to cover fixed charges for the three months
ended March 31, 1994 and the year ended December 31, 1990, would have
been $253.3 million and $11.8 million, respectively.