Exhibit 12.1
Seagate Technology and Its Predecessor
Computation of Ratio of Earnings to Fixed Charges
(In millions, except for ratio of earnings to fixed charges)
Predecessor | Seagate Technology | |||||||||||||||||||||||
Fiscal Year Ended | July 1, Nov. 22, | Nov. 23 June 29, | Fiscal June 28, | Fiscal June 27, 2003 | ||||||||||||||||||||
July 2, 1999 | June 30, 2000 | |||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income | $ | 275 | $ | 641 | $ | (618 | ) | $ | (101 | ) | $ | 239 | $ | 660 | ||||||||||
Add back fixed charges: | ||||||||||||||||||||||||
Interest expense | 48 | 52 | 24 | 54 | 69 | 47 | ||||||||||||||||||
Amortization of debt discount and debt issuance costs | — | — | — | 5 | 8 | 3 | ||||||||||||||||||
Interest portion of rent expense | 16 | 12 | 4 | 5 | 7 | 7 | ||||||||||||||||||
Adjusted earnings | $ | 339 | $ | 705 | $ | (590 | ) | $ | (37 | ) | $ | 323 | $ | 717 | ||||||||||
Total fixed charges | $ | 64 | $ | 64 | $ | 28 | $ | 64 | $ | 84 | $ | 57 | ||||||||||||
Ratio of earnings to fixed charges | 5.3 | x | 11.0 | x | 3.8 | x | 12.6 | x | ||||||||||||||||
Deficiency of earnings to fixed | $ | (590 | ) | $ | (37 | ) |