EX-12 8 a20171231-exhibit1210k.htm EXHIBIT 12 Exhibit



Exhibit 12
DISCOVERY COMMUNICATIONS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(unaudited; in millions, except ratio amounts)
 
 
 
Years Ended December 31,
 
 
2017
 
2016
  
2015
 
2014
 
2013
Earnings:
 
 
 
 
  
 
 
 
 
 
(Loss) income from continuing operations, net of taxes
 
$
(313
)
 
$
1,218

 
$
1,048

 
$
1,137

 
$
1,077

Add:
 
 
 
 
  
 
 
 
 
 
Provision for income taxes
 
176

 
453

 
511

 
610

 
659

Loss (income) from equity investees, net
 
211

 
38

 
(1
)
  
(23
)
 
(18
)
Distributions of income from equity investees
 
12

  
6

  
8

  
22

  
14

Total interest expense
 
481

 
360

 
332

 
333

  
309

Portion of rents representative of the interest factor
 
42

  
41

  
44

  
48

  
31

Earnings, as adjusted
 
$
609

  
$
2,116

  
$
1,942

  
$
2,127

  
$
2,072

Fixed charges:
 
 
 
 
  
 
 
 
 
 
Total interest expense
 
$
481

  
$
360

  
$
332

  
$
333

  
$
309

Portion of rents representative of the interest factor
 
42

  
41

  
44

  
48

  
31

Total fixed charges
 
$
523

  
$
401

  
$
376

  
$
381

  
$
340

Preferred stock dividends
 
—

 
—

 
—

  
—

  
—

Total combined fixed charges and preferred stock dividends
 
$
523

  
$
401

  
$
376

  
$
381

  
$
340

Ratio of earnings to fixed charges
 
1.2
x
  
5.3
x
  
5.2
x
  
5.6
x
  
6.1
x
Ratio of earnings to combined fixed charges and preferred stock dividends
 
1.2
x
  
5.3
x
  
5.2
x
  
5.6
x
  
6.1
x