Open Text (OTEX) 10-K 2017 FY Annual report

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

The following table reflects the computation of the ratio of earnings to combined fixed charges and preference dividends for the periods presented (in thousands, except for ratios):

	Year Ended June 30,
	2017		2016		2015		2014	2013
Computation of earnings:
Earnings before taxes	249,551		290,777		266,044		276,535	178,210
Add:
(Income) losses attributable to non-controlling interests	(256	)	(18	)	(79	)	51	—
Fixed charges (see below)	119,124		76,363		54,620		27,934	16,982
Share in net (income) loss of equity investees	(5,952	)	—		—		—	—
	362,467		367,122		320,585		304,520	195,192
Computation of combined fixed charges and preference dividends:
Fixed charges:
Interest and other related expense, net	119,124		76,363		54,620		27,934	16,982
Preference dividends	—		—		—		—	—
Total combined fixed charges and preference dividends	119,124		76,363		54,620		27,934	16,982
Ratio of earnings to fixed charges (1)	3.04		4.81		5.87		10.90	11.49
Ratio of earnings to combined fixed charges and preference dividends (1) (2)	3.04		4.81		5.87		10.90	11.49

__________

(1) For the purpose of these calculations, "earnings" is the amount resulting from adding together earnings before taxes, fixed charges, losses attributable to non-controlling interests and our share in net (income) losses of equity investees. "Fixed charges" includes interest expensed and the amortization of capitalized expenses related to indebtedness.

(2) There were no preference shares outstanding for the indicated periods. Accordingly, the ratio of earnings to combined fixed charges and preference dividends was identical to the ratio of earnings to fixed charges for each period.