EX-12.1 3 d522030dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TEGNA INC.

RATIO OF EARNINGS TO FIXED CHARGES

In Millions, except ratio amounts

(unaudited)

 

     Year Ended  
     Dec. 31, 2017     Dec. 31, 2016      Dec. 31, 2015      Dec. 28, 2014      Dec. 29, 2013  

Earnings Available for Fixed Charges:

             

Income from Continued Operations, before income taxes, as reported

   $ 311     $ 449      $ 346      $ 210      $ (10

Add : Noncontrolling interest and income from unconsolidated

     (10     3        3        3        3  
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Income from operations, before income taxes, as adjusted

     301       452        349        213        (7

Add : Fixed Charges

     215       238        279        277        179  

Add: Distributed income of equity investees

     21       —          —          —          —    
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total Earnings available for fixed charges

   $ 537     $ 690      $ 628      $ 490      $ 172  
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Fixed Charges:

             

Interest on indebtedness, net of capitalized interest

   $ 210     $ 232      $ 274      $ 273      $ 176  

Portion of rents representative of interest factor

     5       6        5        4        3  
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 215     $ 238      $ 279      $ 277      $ 179  
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges (A)

     2.50       2.90        2.25        1.77        (B
  

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

 

(A) Interest expense related to unrecognized tax benefits is recorded as a component of income tax expense and is excluded from both fixed charges and pretax income.
(B) Earnings for the year ended December 31, 2013 were inadequate to cover fixed charges by approximately $6.8 million.