Exhibit 12
THE NEW YORK TIMES COMPANY
Ratio of Earnings to Fixed Charges
(Dollars in thousands, except ratio)
(Unaudited)
Three Months Ended
March 26, 2000 March 28, 1999
-------------- --------------
Earnings from continuing operations before
fixed charges
Income before income taxes, income from joint ventures $139,591 $103,345
Distributed earnings from less than fifty percent owned affiliates 2,703 1,475
-------- --------
Adjusted pre-tax earnings from continuing operations 142,294 104,820
Fixed charges 18,412 14,910
-------- --------
Earnings from continuing operations before fixed charges $160,706 $119,730
======== ========
Fixed charges
Interest expense $ 15,858 $ 12,342
Portion of rentals representative of interest factor 2,554 2,568
-------- --------
Total fixed charges $ 18,412 $ 14,910
======== ========
Ratio of earnings to fixed charges 8.73 8.03
======== ========