EXHIBIT 12.2
TURNER BROADCASTING SYSTEM, INC.
RATIO OF EARNINGS TO FIXED CHARGES
NINE MONTHS THREE MONTHS NINE MONTHS
ENDED ENDED ENDED YEAR ENDED DECEMBER 31,
SEPTEMBER 30, DECEMBER 31, SEPTEMBER 30, ----------------------------
1997 1996 1996 1995 1994 1993 1992
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(IN MILLIONS, EXCEPT RATIOS)
Earnings:
Net income (loss) before
income taxes and
extraordinary items..... $ 143 $ 42 $ (42) $173 $ 79 $121 $100
Interest expense.......... 153 60 141 209 219 195 201
Amortization of
capitalized interest.... 15 5 13 11 7 -- --
Portion of rents
representative of an
interest factor......... 23 8 23 31 30 26 22
Adjustment for partially
owned subsidiaries and
50% owned companies..... -- -- -- -- -- -- 9
Undistributed losses of
less than 50% owned
companies............... 6 2 1 16 15 16 --
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Total earnings........ $ 340 $ 117 $ 136 $440 $350 $358 $332
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Fixed charges:
Interest expense.......... $ 153 $ 60 $ 141 $209 $219 $195 $201
Capitalized interest...... 16 6 16 15 14 -- --
Portion of rents
representative of an
interest factor......... 23 8 23 31 30 26 22
Adjustment for partially
owned subsidiaries and
50% owned companies..... -- -- -- -- -- -- 9
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Total fixed charges... $ 192 $ 74 $ 180 $255 $263 $221 $232
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Ratio of earnings to fixed
charges
(deficiency in the coverage
of fixed charges by earnings
before fixed charges)(a).... 1.8x 1.6x $ (44) 1.7x 1.3x 1.6x 1.4x
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(a) TBS became a wholly owned subsidiary of TWI on October 10, 1996 through a
merger with a subsidiary of TWI in connection with the TBS Transaction. The
ratios of earnings to fixed charges of TBS for all post-merger periods have
been adjusted to reflect the Issuer's basis of accounting. The ratios of
earnings to fixed charges (or coverage deficiencies) of TBS for all
pre-merger periods are reflected at TBS's historical cost basis of
accounting. Certain reclassifications have been made to TBS's ratios of
earnings to fixed charges for pre-merger periods to conform to the
post-merger presentation.