Juniper Networks (JNPR) 10-Q2013 Q1 Quarterly report

Filed: 8 May 13, 12:00am

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EXHIBIT 12.1

Juniper Networks, Inc.

Statements of Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios)



	Three months ended			Years ended December 31,
	3/31/2013 (*)			2012 (*)			2011 (*)			2010 (*)			2009 (*)		2008 (*)
Earnings for computation of ratio:
Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income from equity investees	$	75.4		$	266.0		$	572.0		$	769.5		$	317.6	$	743.7
Fixed charges	18.4			72.0			69.2			16.8			17.0		23.2
Amortization of capitalized interest	0.1			—			—			—			—		—
Less:
Interest capitalized	(0.6		)	(7.1		)	(1.2		)	—			—		—
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges	—			—			—			(1.3		)	—		—
Total earnings	$	93.3		$	330.9		$	640.0		$	785.0		$	334.6	$	766.9

Fixed charges:
Interest expensed	$	14.1		$	52.2		$	48.9		$	—		$	—	$	5.8
Amortized premiums, discounts, and capitalized expenses relating to indebtedness	0.2			0.8			0.6			—			—		—
Estimate of interest within rental expense	4.1			19.0			19.7			16.8			17.0		17.4
Total fixed charges	$	18.4		$	72.0		$	69.2		$	16.8		$	17.0	$	23.2

Ratio of earnings to fixed charges	5.1			4.6			9.2			46.8			19.7		33.0

________________________________


(*)	For these ratios, "earnings" represents income before taxes before adjustment for noncontrolling interests in equity investments and fixed charges, adjusted for interest capitalized and noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges.