EX-12 3 a2100471zex-12.htm EXHIBIT 12

 

EXHIBIT 12

THE NEW YORK TIMES COMPANY
Ratio of Earnings to Fixed Charges
(Unaudited)

 

 

For the Years Ended

 

 

(in thousands, except ratio)

 

December 29,
2002

 

December 30,
2001

 

December 31,
2000

 

December 26,
1999

 

December 27,
1998

 

 

Earnings from continuing operations before fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes and income/loss from joint ventures

 

 

$

504,433

 

 

 

$

332,204

 

 

 

$

637,830

 

 

 

$

501,912

 

 

 

$

454,423

 

 

Distributed earnings from less than fifty-percent owned affiliates

 

 

6,459

 

 

 

14,859

 

 

 

19,375

 

 

 

13,061

 

 

 

18,192

 

 

Adjusted pre-tax earnings from continuing operations

 

 

510,892

 

 

 

347,063

 

 

 

657,205

 

 

 

514,973

 

 

 

472,615

 

 

Fixed charges less capitalized interest

 

 

60,023

 

 

 

64,069

 

 

 

80,876

 

 

 

63,313

 

 

 

56,029

 

 

Earnings from continuing operations before fixed charges

 

 

$

570,915

 

 

 

$

411,132

 

 

 

$

738,081

 

 

 

$

578,286

 

 

 

$

528,644

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

 

$

48,697

 

 

 

$

51,405

 

 

 

$

68,566

 

 

 

$

52,503

 

 

 

$

46,927

 

 

Capitalized interest

 

 

1,662

 

 

 

459

 

 

 

 

 

 

 

 

 

173

 

 

Portion of rentals representative of interest factor

 

 

11,326

 

 

 

12,664

 

 

 

12,310

 

 

 

10,810

 

 

 

9,102

 

 

Total fixed charges

 

 

$

61,685

 

 

 

$

64,528

 

 

 

$

80,876

 

 

 

$

63,313

 

 

 

$

56,202

 

 

Ratio of earnings to fixed charges

 

 

9.26

 

 

 

6.37

 

 

 

9.13

 

 

 

9.13

 

 

 

9.41

 

 

 

Note:        The Ratio of Earnings to Fixed Charges should be read in conjunction with the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-K.