Juniper Networks (JNPR) 10-Q2014 Q1 Quarterly report

Filed: 8 May 14, 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,
	3/31/14^(*)			2013^(*)			2012^(*)			2011^(*)			2010^(*)			2009^(*)
Earnings for computation of ratio:
Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income from equity investees	$	148.0		$	518.4		$	266.0		$	572.0		$	769.5		$	317.6
Fixed charges	20.2			76.1			72.0			69.2			16.8			17.0
Amortization of capitalized interest	0.1			0.4			—			—			—			—
Less:
Interest capitalized	(0.7		)	(1.9		)	(7.1		)	(1.2		)	—			—
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges	—			—			—			—			(1.3		)	—
Total earnings	$	167.6		$	593.0		$	330.9		$	640.0		$	785.0		$	334.6

Fixed charges:
Interest expense	$	15.4		$	58.1		$	52.2		$	48.9		$	—		$	—
Interest capitalized	0.7			1.9
Amortized premiums, discounts, and capitalized expenses relating to indebtedness	0.2			0.3			0.8			0.6			—			—
Estimate of interest within rental expense	3.9			15.8			19.0			19.7			16.8			17.0
Total fixed charges	$	20.2		$	76.1		$	72.0		$	69.2		$	16.8		$	17.0

Ratio of earnings to fixed charges	8.3			7.8			4.6			9.2			46.8			19.7

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^(*)	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.