Exhibit 12.1
Tyco International plc
Computation of Ratio of Earnings to Fixed Charges (1)
(U.S. dollars in millions)
| Quarter Ended | Fiscal Year Ended | |||||||||||||||||||||||
| December 26, 2014 | September 26, 2014 | September 27, 2013 | September 28, 2012 | September 30, 2011 | September 24, 2010 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 181 | $ | 613 | $ | 596 | $ | (67 | ) | $ | 673 | $ | 209 | |||||||||||
Add: Fixed charges | 45 | 190 | 195 | 306 | 328 | 375 | ||||||||||||||||||
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| $ | 226 | $ | 803 | $ | 791 | $ | 239 | $ | 1,001 | $ | 584 | |||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense before capitalized interest | $ | 24 | $ | 97 | $ | 100 | $ | 209 | $ | 240 | $ | 279 | ||||||||||||
Estimate of interest within rental expense | 21 | 93 | 95 | 97 | 88 | 96 | ||||||||||||||||||
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Total fixed charges | $ | 45 | $ | 190 | $ | 195 | $ | 306 | $ | 328 | $ | 375 | ||||||||||||
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Ratio of earnings to fixed charges | 5.02 | 4.23 | 4.06 | — | (2) | 3.05 | 1.56 | |||||||||||||||||
| (1) | The ratio of earnings to fixed charges is computed by dividing the sum of earnings before income taxes and fixed charges by fixed charges. Fixed charges represent interest expense (before interest is capitalized), amortization of debt premiums and discounts, capitalized expenses related to indebtedness and an appropriate interest factor on operating leases. Fixed charges represent amounts relating to continuing operations. |
| (2) | In fiscal year 2012, fixed charges exceeded earnings by $67 million. |
