EXHIBIT 12.1
Juniper Networks, Inc.
Statements of Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
(in millions, except ratios)
Quarter Ended | Years ended December 31, | ||||||||||||||||||||||
3/31/2012 (a) | 2011 (a) | 2010 (a) | 2009 (a) | 2008 (a) | 2007 (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 | $ | 37.3 | $ | 572.0 | $ | 769.5 | $ | 317.6 | $ | 743.7 | $ | 503.8 | |||||||||||
Fixed charges | 19.0 | 69.2 | 16.8 | 17.0 | 23.2 | 17.6 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Interest capitalized | (1.0 | ) | (1.2 | ) | — | — | — | — | |||||||||||||||
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | (1.3 | ) | — | — | — | ||||||||||||||||
Total earnings (loss) | $ | 55.3 | $ | 640.0 | $ | 785.0 | $ | 334.6 | $ | 766.9 | $ | 521.4 | |||||||||||
Fixed charges: | |||||||||||||||||||||||
Interest expensed and debt cost amortization | $ | 14.0 | $ | 48.9 | $ | — | $ | — | $ | 5.8 | $ | 2.9 | |||||||||||
Amortized premiums, discounts, and capitalized expenses relating to indebtedness | 0.2 | 0.6 | — | — | — | — | |||||||||||||||||
Estimate of interest within rental expense | 4.7 | 19.7 | 16.8 | 17.0 | 17.4 | 14.6 | |||||||||||||||||
Total fixed charges | $ | 18.9 | $ | 69.2 | $ | 16.8 | $ | 17.0 | $ | 23.2 | $ | 17.5 | |||||||||||
Ratio of earnings to fixed charges | 2.9 | 9.2 | 46.8 | 19.7 | 33.0 | 29.7 |
(a) | For these ratios, "earnings" represents income before taxes before adjustment for minority interests in equity investments and fixed charges, adjusted for interest capitalized and minority interest in pre-tax income of subsidiaries that have not incurred fixed charges. |