Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - NEW YORK TIMES CO | Financial_Report.xls |
| 10-Q - FORM 10-Q - NEW YORK TIMES CO | nyt3291510-qdocument.htm |
| EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - NEW YORK TIMES CO | ex312_32915.htm |
| EX-32.2 - CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - NEW YORK TIMES CO | ex322_32915.htm |
| EX-10.1 - AMENDMENT NO. 7 TO THE SUPPLEMENTAL RETIREMENT AND INVESTMENT PLAN - NEW YORK TIMES CO | ex101_32915.htm |
| EX-32.1 - CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - NEW YORK TIMES CO | ex321_32915.htm |
| EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION - NEW YORK TIMES CO | ex311_32915.htm |
EXHIBIT 12
The New York Times Company Ratio of Earnings to Fixed Charges (Unaudited)
For the three months ended March 29, 2015 | For the Years Ended | ||||||||||||||||||||||||
(In thousands, except ratio) | December 28, 2014 | December 29, 2013 | December 30, 2012 | December 25, 2011 | December 26, 2010 | ||||||||||||||||||||
Earnings/(loss) from continuing operations before fixed charges | |||||||||||||||||||||||||
Earnings/(loss) from continuing operations before income taxes, noncontrolling interest and (loss)/income from joint ventures | $ | (23,256 | ) | $ | 38,218 | $ | 98,014 | $ | 255,621 | $ | 66,283 | $ | 52,474 | ||||||||||||
Distributed earning from less than fifty-percent owned affiliates | — | 3,914 | 1,400 | 9,251 | 3,463 | 8,325 | |||||||||||||||||||
Adjusted pre-tax earnings/(loss) from continuing operations | (23,256 | ) | 42,132 | 99,414 | 264,872 | 69,746 | 60,799 | ||||||||||||||||||
Fixed charges less capitalized interest | 14,497 | 62,869 | 63,032 | 67,243 | 90,252 | 92,143 | |||||||||||||||||||
Earnings/(loss) from continuing operations before fixed charges | $ | (8,759 | ) | $ | 105,001 | $ | 162,446 | $ | 332,115 | $ | 159,998 | $ | 152,942 | ||||||||||||
Fixed charges | |||||||||||||||||||||||||
Interest expense, net of capitalized interest(1) | $ | 13,333 | $ | 58,914 | $ | 59,588 | $ | 63,218 | $ | 85,693 | $ | 86,291 | |||||||||||||
Capitalized interest | 51 | 152 | — | 17 | 427 | 299 | |||||||||||||||||||
Portion of rentals representative of interest factor | 1,164 | 3,955 | 3,444 | 4,025 | 4,559 | 5,852 | |||||||||||||||||||
Total fixed charges | $ | 14,548 | $ | 63,021 | $ | 63,032 | $ | 67,260 | $ | 90,679 | $ | 92,442 | |||||||||||||
Ratio of earnings to fixed charges(2) | — | 1.67 | 2.58 | 4.94 | 1.76 | 1.65 | |||||||||||||||||||
Note: | The Ratio of Earnings to Fixed Charges should be read in conjunction with this Quarterly Report on Form 10-Q, as well as the Annual Report on Form 10-K for the year ended December 28, 2014 for The New York Times Company (the “Company”). |
(1) | 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. |
(2) | For the period ended March 29, 2015, earnings were insufficient to cover fixed charges by approximately $23 million. |