EXHIBIT 12.1
Juniper Networks, Inc.
Statements of Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
Year Ended December 31, | ||||||||||||||||||||
2005 (a) | 2004 (a) | 2003 (a) | 2002 (b) | 2001 (a) | ||||||||||||||||
Earnings for Computation of Ratio: | ||||||||||||||||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 502.2 | $ | 219.0 | $ | 59.0 | $ | (115.1 | ) | $ | 16.5 | |||||||||
Distributed income from equity investee | — | — | — | 1.3 | 4.1 | |||||||||||||||
Fixed charges | 12.4 | 13.0 | 45.9 | 60.7 | 65.9 | |||||||||||||||
Total earnings (losses) | $ | 514.6 | $ | 232.0 | $ | 104.9 | $ | (53.1 | ) | $ | 86.5 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expensed and debt cost amortization | $ | 1.5 | $ | 4.1 | $ | 38.0 | $ | 55.6 | $ | 61.4 | ||||||||||
Estimate of interest within rental expense | 10.9 | 8.9 | 7.9 | 5.1 | 4.5 | |||||||||||||||
Total fixed charges | $ | 12.4 | $ | 13.0 | $ | 45.9 | $ | 60.7 | $ | 65.9 | ||||||||||
Ratio of earnings to fixed charges | 41.6 | 17.8 | 2.3 | — | 1.3 |
(a) | For these ratios, “earnings” represents (i) income before taxes before adjustment for minority interests in equity investees and (ii) fixed charges. | |
(b) | The pre-tax losses from continuing operations for the year end December 31, 2002 are not sufficient to cover fixed charges by a total of approximately $113.8 million. As a result, the ratio of earnings to fixed charges has not been computed for this period. |