Sandisk Inactive 10-Q2016 Q1 Quarterly report

Filed: 2 May 16, 12:00am

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EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges



	Three months ended			Years ended
	April 3, 2016			January 3, 2016			December 28, 2014			December 29, 2013			December 30, 2012			January 1, 2012
	(In thousands, except ratios)
Computation of earnings:
Income before provision for income taxes	$	121,761		$	529,624		$	1,489,030		$	1,516,149		$	626,916		$	1,476,754
Fixed charges excluding capitalized interest	34,187			132,422			124,188			93,804			128,934			125,057
Distributed earnings from 50%-or-less-owned affiliates	(6		)	(1,483		)	(977		)	(13,733		)	(451		)	(2,729		)
Adjusted earnings	$	155,942		$	660,563		$	1,612,241		$	1,596,220		$	755,399		$	1,599,082
Computation of fixed charges:
Interest expense	$	30,236		$	120,279		$	113,216		$	91,785		$	119,869		$	122,512
Interest relating to lease guarantee of 50%-or-less-owned affiliates	3,093			7,961			6,943			—			7,065			—
Interest portion of operating lease expense	858			4,182			4,029			2,019			2,000			2,545
Fixed charges	$	34,187		$	132,422		$	124,188		$	93,804		$	128,934		$	125,057
Ratio of earnings to fixed charges⁽¹⁾	4.6		x	5.0		x	13.0		x	17.0		x	5.9		x	12.8		x


⁽¹⁾	Computed by dividing (i) income before provision for income taxes adjusted for fixed charges by (ii) fixed charges which include interest expense plus amortization of debt issuance costs, the portion of rent expense under operating leases deemed to be representative of the interest factor and interest relating to lease guarantees of 50%-or-less-owned affiliates.