EXHIBIT 12.2
VIACOM INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNING TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(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 $(352.3) $102.1 $301.8 $155.6 $ 8.2 $(70.4) $144.9
Add:
Distributed income of
affiliated companies 7.8 .6 13.4 9.5 5.6 2.8 4.5
Interest expense, net of
capitalized interest 61.4 41.2 154.1 195.2 298.1 295.3 313.1
Capitalized interest 1.9 .6 2.1 2.4 2.3 2.3 2.3
amortized
1/3 of rental expense 8.7 6.3 24.8 22.6 21.5 18.8 15.5
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Earnings (Loss) $(272.5) $150.8 $496.2 $385.3 $335.7 $ 248.8 $480.3
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Fixed charges:
Interest costs on all
indebtedness $ 62.4 $ 41.3 $154.5 $195.7 $298.6 $296.1 $313.8
1/3 of rental expense 8.7 6.3 24.8 22.6 21.5 18.8 15.5
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Total fixed charges $ 71.1 $ 47.6 $179.3 $218.3 $320.1 $314.9 $329.3
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Ratio of earnings to
fixed charges Note (a) 3.2X 2.8X 1.8X 1.0X Note (a) 1.5X
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Ratio of earnings to combined
fixed charges and preferred
stock dividends Note (b) -- -- -- -- -- 1.3X
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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 $343.6
million and $66.2 million, respectively.
(b) Earnings were inadequate to cover combined fixed charges and preferred
stock dividends; the additional amount of earnings required to cover
combined fixed charges and preferred stock dividends for the three
months ended March 31, 1994, would have been $361.2 million.