Exhibit 12.01
Flextronics International Ltd.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
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| Fiscal Year Ended March 31, |
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| 2009 |
| 2010 |
| 2011 |
| 2012 |
| 2013 |
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| ($’s in thousands) |
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Calculation of Earnings: |
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Income (loss) from continuing operations |
| $ | (5,929,209 | ) | $ | 31,898 |
| $ | 612,261 |
| $ | 520,770 |
| $ | 302,502 |
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Income taxes (benefit) |
| 5,364 |
| (37,059 | ) | 22,049 |
| 53,960 |
| 26,313 |
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Income (loss) before taxes |
| $ | (5,923,845 | ) | $ | (5,161 | ) | $ | 634,310 |
| $ | 574,730 |
| $ | 328,815 |
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Plus: |
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Fixed charges |
| $ | 255,718 |
| $ | 166,731 |
| $ | 95,736 |
| $ | 72,757 |
| $ | 73,414 |
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Capitalized interest |
| (1,747 | ) | (1,113 | ) | (1,036 | ) | (78 | ) | (87 | ) | |||||
Distributed income of equity investees |
| 77 |
| — |
| 56 |
| 108 |
| 63 |
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Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
| — |
| — |
| — |
| — |
| — |
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Amortization of previously capitalized interest |
| 454 |
| 723 |
| 894 |
| 1,053 |
| 1,065 |
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Total earnings (loss) |
| $ | (5,669,343 | ) | $ | 161,180 |
| $ | 729,960 |
| $ | 648,570 |
| $ | 403,270 |
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Calculation of Fixed Charges: |
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Interest on all indebtedness and amortization of debt discount and expense |
| $ | 236,321 |
| $ | 148,658 |
| $ | 81,297 |
| $ | 60,117 |
| $ | 58,790 |
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Capitalized interest |
| 1,747 |
| 1,113 |
| 1,036 |
| 78 |
| 87 |
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Discount, premium and capitalized expenses related to Indebtedness |
| 9,198 |
| 9,395 |
| 7,403 |
| 7,667 |
| 10,112 |
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Interest factor attributable to rentals |
| 8,452 |
| 7,565 |
| 6,000 |
| 4,895 |
| 4,425 |
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Total Fixed Charges |
| $ | 255,718 |
| $ | 166,731 |
| $ | 95,736 |
| $ | 72,757 |
| $ | 73,414 |
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Ratio of Earnings to Fixed Charges |
| — |
| — |
| 7.6x |
| 8.9x |
| 5.5x |
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Deficiency of Earnings Available to Cover Fixed Charges |
| (5,925,061 | ) | (5,551 | ) | — |
| — |
| — |
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