KLA (KLAC) 10-K2012 Q4 Annual report

Filed: 6 Aug 12, 12:00am

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Exhibit 12.1

KLA-Tencor Corporation

Computation of Ratio of Earnings to Fixed Charges



	Fiscal year ended June 30,
(In thousands, except ratios)	2012		2011		2010		2009			2008
Earnings (losses):
Income (loss) before income taxes	$	974,094	$	1,110,066	$	291,181	$	(602,531	)	$	560,234
Add back fixed charges:
Interest expense	54,197		54,328		54,517		55,339			10,767
Amortization of bond issuance costs	735		735		735		735			123
Interest portion of rental expense	3,008		2,834		3,687		4,114			3,824
Total adjusted earnings (losses)	$	1,032,034	$	1,167,963	$	350,120	$	(542,343	)	$	574,948

Fixed charges:
Interest expense	$	54,197	$	54,328	$	54,517	$	55,339		$	10,767
Amortization of bond issuance costs	735		735		735		735			123
Interest portion of rental expense	3,008		2,834		3,687		4,114			3,824
Total fixed charges	$	57,940	$	57,897	$	58,939	$	60,188		$	14,714

Ratio of earnings to fixed charges	17.8		20.2		5.9		(a)			39.1

__________________

(a) Earnings were inadequate to cover the fixed charges by $602.5 million in the fiscal year ended June 30, 2009.

For purposes of calculating the ratio of earnings to fixed charges, earnings is the amount resulting from adding earnings before income taxes, plus fixed charges. Fixed charges for these purposes include interest expense, amortization of bond issuance costs, and one-third of rental expense, which KLA-Tencor considers to be a reasonable approximation of the interest factor included in rental expense.