NEW YORK TIMES CO - FORM 10-K - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - February 22, 2010

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10-K - FORM 10-K - NEW YORK TIMES COd10k.htm
EX-21 - SUBSIDIARIES OF THE COMPANY - NEW YORK TIMES COdex21.htm
EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - NEW YORK TIMES COdex312.htm
EX-32.1 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 - NEW YORK TIMES COdex321.htm
EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - NEW YORK TIMES COdex311.htm
EX-23.1 - CONSENT OF ERNST & YOUNG LLP - NEW YORK TIMES COdex231.htm
EX-32.2 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 - NEW YORK TIMES COdex322.htm

 

EXHIBIT 12

The New York Times Company Ratio of Earnings to Fixed Charges (Unaudited)

 

     For the Years Ended
(In thousands, except ratio)    December 27,
2009		     December 28,
2008		     December 30,
2007		    December 31,
2006		     December 25,
2005

(Loss)/earnings from continuing operations before fixed charges

            

(Loss)/income from continuing operations before income taxes, noncontrolling interest and income/(loss) from joint ventures

    $ (16,892 )    $ (88,981 )    $ 146,728    $ (577,550 )   $ 390,772

Distributed earnings from less than fifty-percent owned affiliates

      2,775        35,733        7,979      13,375        9,132
                                       

Adjusted pre-tax (loss)/earnings from continuing operations

      (14,117 )      (53,248 )      154,707      (564,175 )     399,904

Fixed charges less capitalized interest

      88,608        55,038        49,228      68,747        64,211
                                       

Earnings/(loss) from continuing operations before fixed charges

    $ 74,491      $ 1,790      $ 203,935    $ (495,428 )    $ 464,115
                                       
                                       

Fixed charges

            

Interest expense, net of capitalized interest(a)

    $ 83,124      $ 48,191      $ 43,228    $ 58,581      $ 53,630

Capitalized interest

      1,566        2,639        15,821      14,931        11,155

Portion of rentals representative of interest factor

      5,484        6,847        6,000      10,166        10,581
                                       

Total fixed charges

    $ 90,174      $ 57,677      $ 65,049    $ 83,678      $ 75,366
                                       
                                       

Ratio of earnings to fixed charges(b)

      —        —        3.14      —        6.16
                                       
                                       

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 Annual Report on Form 10-K for the fiscal year ended December 27, 2009.

 

(a)         The Company’s policy is to classify interest expense recognized on uncertain tax positions as income tax expense. The Company has excluded interest expense recognized on uncertain tax positions from the Ratio of Earnings to Fixed Charges.

(b)         In 2009, 2008 and 2006, earnings were inadequate to cover fixed charges because of certain charges recorded in the respective year.

 

                                       

 

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