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EXHIBIT 12(D)
TURNER BROADCASTING SYSTEM, INC.
COMPUTATION OF PRO FORMA RATIO OF EARNINGS
TO FIXED CHARGES
NINE MONTHS
YEAR ENDED ENDED
DECEMBER 31, SEPTEMBER 30,
1992 1993
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PRO FORMA PRO FORMA
FOR THE ACQUISITIONS FOR THE ACQUISITIONS
AND THE NEW LINE AND THE NEW LINE
MERGER MERGER
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(IN THOUSANDS, EXCEPT RATIO AMOUNTS)
(A) Income before gain on issuance of stock,
provision for income taxes, extraordinary items and
the cumulative effect of a change in accounting for
income taxes(a)..................................... $ 46,516 $ 81,584
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Fixed charges
Interest expense.................................... $237,340 $177,074
Interest capitalized................................ 6,454 4,435
Interest associated with rental agreements(b)....... 22,910 21,738
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(B) Total fixed charges........................... 266,704 203,247
Less interest capitalized........................... 6,454 4,435
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(C) Total fixed charges exclusive of interest
capitalized.............................. $260,250 $198,812
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(D) Earnings before gain on issuance of stock, provision
for income taxes, extraordinary items, the
cumulative effect of a change in accounting for
income taxes and fixed charges exclusive of interest
capitalized (A+C)................................... $306,766 $280,396
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Ratio of earnings to fixed charges (D/B).............. 1.15 1.38
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(a) Excludes earnings of less-than-fifty-percent owned entities for the pro
forma year ended December 31, 1992 of $6,690,000 and losses of
less-than-fifty-percent owned entities for the pro forma nine-month period
ended September 30, 1993 of $11,952,000.
(b) This charge represents one-third of consolidated rent expense, which the
Company believes to be a reasonable approximation of the interest factor.