EX-12.1 2 d473118dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

News Corporation

Computation of Ratio of Earnings to Fixed Charges

(in Millions, Except Ratio Amounts)

(Unaudited)

 

     For the six months ended December 31,  
               2012                           2011              

Earnings:

     

Income before income tax expense

    $ 5,415     $ 2,563  

Add:

     

Equity earnings from affiliates

      (364 )      (263 ) 

Dividends received from affiliates

      306       253  

Fixed charges, excluding capitalized interest

      636       622  

Amortization of capitalized interest

      25       25  

Total earnings available for fixed charges

    $ 6,018     $ 3,200  
  

 

 

    

 

 

  

Fixed charges:

     

Interest on debt and finance lease charges

    $ 533     $ 515  

Capitalized interest

      19       22  

Interest element on rental expense

      103       107  
  

 

 

    

 

 

  

Total fixed charges

    $ 655     $ 644  
  

 

 

    

 

 

  

Ratio of earnings to fixed charges

      9.2       5.0