NVIDIA (NVDA) S-3ASR Automatic shelf registration

Exhibit 12.1

	Year Ended										Six Months Ended
	January 31,		January 25,		January 26,		January 27,		January 29,		July 31,
	2016		2015		2014		2013		2012		2016
	(In thousands)
Earnings:
Income before income taxes	$	743,013	$	754,836	$	510,254	$	662,039	$	663,396	$	558,141
Add:
Interest expense		46,587		46,133		10,443		3,294		3,089		23,461
Interest portion of rental expense (a)		15,132		15,778		14,584		12,798		12,647		7,459
Earnings as adjusted	$	804,732	$	816,747	$	535,281	$	678,131	$	679,132	$	589,061
Fixed Charges:
Interest expense	$	46,587	$	46,133	$	10,443	$	3,294	$	3,089	$	23,461
Interest portion of rental expense (a)		15,132		15,778		14,584		12,798		12,647		7,459
Total fixed charges	$	61,719	$	61,911	$	25,027	$	16,092	$	15,736	$	30,920
Ratio of earnings to fixed charges		13.04		13.19		21.39		42.14		43.16		19.05

(a) Assumed to be one-third of rental expense.