Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
SanDisk Corporation
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
Three Months | ||||||||||||||||||||||||
Fiscal Year Ended | Ended | |||||||||||||||||||||||
December 30, | December 29, | December 28, | January 2, | January 1, | April 2, | |||||||||||||||||||
2001 | 2002 | 2003 | 2005 | 2006 | 2006 | |||||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||||||
Consolidated pretax income/(loss) | $ | (441,944 | ) | $ | 39,979 | $ | 241,881 | $ | 423,200 | $ | 613,307 | $ | 76,389 | |||||||||||
Interest expense (c) | 138 | 7,580 | 7,640 | 8,526 | 17 | 87 | ||||||||||||||||||
Interest relating to lease guarantee of 50%-or-less-owned affiliate | — | — | — | — | 594 | — | ||||||||||||||||||
Interest portion of operating lease expense (b) | 1,069 | 912 | 926 | 1,199 | 1,246 | 657 | ||||||||||||||||||
Loss from 50%-owned affiliate | — | — | — | — | 3,145 | 1,117 | ||||||||||||||||||
Equity income of business ventures | (856 | ) | (1,294 | ) | (148 | ) | (659 | ) | (719 | ) | (168 | ) | ||||||||||||
Adjusted Earnings | $ | (441,593 | ) | $ | 47,177 | $ | 250,299 | $ | 432,266 | $ | 617,590 | $ | 78,082 | |||||||||||
Computation of Fixed Charges: | ||||||||||||||||||||||||
Interest expense (c) | $ | 138 | $ | 7,580 | $ | 7,640 | $ | 8,526 | $ | 17 | $ | 87 | ||||||||||||
Interest relating to lease guarantee of 50%-or-less-owned affiliate | — | — | — | — | 594 | — | ||||||||||||||||||
Interest portion of operating lease expense (b) | 1,069 | 912 | 926 | 1,199 | 1,246 | 657 | ||||||||||||||||||
Fixed Charges | $ | 1,207 | $ | 8,492 | $ | 8,566 | $ | 9,725 | $ | 1,857 | $ | 744 | ||||||||||||
Ratio of Earnings to Fixed Charges | (a | ) | 5.6 | x | 29.2 | x | 44.4 | x | 332.6 | x | 104.9 | x |
(a) | In the fiscal year ended December 30, 2001, earnings were insufficient to cover fixed charges by $444.0 million. | |
(b) | Portion of rent expense under operating leases deemed to be representative of the interest factor. | |
(c) | Interest expense does not include lease arrangement fees in fiscal 2005 and for the three months ended April 2, 2006. Interest expense in fiscal 2001 through 2004 includes prior bond issuance costs. |