Exhibit 12.1
Verint Systems Inc. and Subsidiaries
Ratios of Earnings to Fixed Charges
and
Ratios of Earnings to Combined Fixed Charges and Preference Security Dividends
(dollars in thousands)
Three Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
April 30, | Year Ended January 31, | |||||||||||||||||||||||
2014 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before provision for income taxes | $ | (13,269 | ) | $ | 63,315 | $ | 67,764 | $ | 46,157 | $ | 38,525 | $ | 24,208 | |||||||||||
Add: Fixed charges | 11,577 | 34,330 | 35,900 | 37,423 | 34,063 | 29,105 | ||||||||||||||||||
Subtract: Noncontrolling interest in pre-tax income of subsidiaries | (1,047 | ) | (6,081 | ) | (5,783 | ) | (4,376 | ) | (3,632 | ) | (1,767 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
$ | (2,739 | ) | $ | 91,564 | $ | 97,881 | $ | 79,204 | $ | 68,956 | $ | 51,546 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed Charges and Preference Security Dividends: | ||||||||||||||||||||||||
Interest Expense, including amortization of discounts | $ | 9,413 | $ | 27,119 | $ | 27,544 | $ | 29,237 | $ | 27,109 | $ | 23,078 | ||||||||||||
Amortization of deferred debt-related costs | 812 | 2,662 | 3,489 | 3,120 | 2,788 | 1,885 | ||||||||||||||||||
Interest component of rent expense | 1,352 | 4,549 | 4,867 | 5,066 | 4,166 | 4,142 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Fixed Charges | 11,577 | 34,330 | 35,900 | 37,423 | 34,063 | 29,105 | ||||||||||||||||||
Dividends on convertible preferred stock (pre-tax) | — | 211 | 18,883 | 18,118 | 17,433 | 16,774 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Fixed Charges and Preference Security Dividends | $ | 11,577 | $ | 34,541 | $ | 54,783 | $ | 55,541 | $ | 51,496 | $ | 45,879 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of Earnings to Fixed Charges | * | 2.7 | 2.7 | 2.1 | 2.0 | 1.8 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Deficiency | $ | 14,316 | — | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of Earnings to Fixed Charges and Preference Security Dividends | * | 2.7 | 1.8 | 1.4 | 1.3 | 1.1 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Deficiency | $ | 14,316 | — | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
* | Ratio for this period is less than 1.0. |