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EXHIBIT 12
A. H. BELO CORPORATION
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
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Six months ended
Year Ended December 31, June 30,
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1995 1996 1997 1998 1999 1999 2000
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<S> <C> <C> <C> <C> <C> <C> <C>
Earnings:
Earnings before income taxes
and the cumulative effect
of accounting charges $111,014 $144,040 $154,122 $130,460 $276,453 $ 130,905 (2)$ 87,695
Add: Total fixed charges 32,089 29,009 94,069 112,082 116,032 55,799 67,349
Less: Interest capitalized 957 255 510 1,680 2,552 1,633 1,380
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Adjusted earnings $142,146 $172,794 $247,681 $240,862 $389,933 $185,071 $153,664
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Fixed Charges:
Interest $ 30,944 $ 27,898 $ 91,288 $109,318 $113,160 $ 54,485 $ 66,156
Portion of rental expense
representative of the
interest factor (1) 1,145 1,111 2,781 2,764 2,872 1,314 1,193
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Total fixed charges $ 32,089 $ 29,009 $ 94,069 $112,082 $116,032 $ 55,799 $ 67,349
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Ratio of Earnings to Fixed Charges 4.43 x 5.96 x 2.63 x 2.15 x 3.36 x 3.32 x 2.28 x
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(1) For the purposes of calculating fixed charges, an interest factor of
one third was applied to total rent expense for the period indicated.
(2) Earnings before income taxes and the cumulative effect of accounting
changes includes a gain of $50,312 related to the June 1, 1999 sale of
television station KXTV. Excluding this item, the Ratio of Earnings to
Fixed Charges is 2.42 times.
