Analog Devices (ADI) 10-K 2014 FY Annual report

Exhibit 12.1

Analog Devices, Inc.

Ratio of Earnings to Fixed Charges

	Oct. 30,		Oct. 29,		Nov. 3,		Nov. 2,		Nov. 1,
(In thousands, except ratios)	2010		2011		2012		2013		2014
Determination of earnings:
Income from continuing operations   before provision for taxes on income	$	901,665	$	1,061,447	$	813,533	$	815,323	$	729,345
Amortization of Capitalized interest	440		54		54		54		54
Fixed charges	11,388		19,892		32,529		32,223		35,973
Total earnings as defined	913,493		1,081,393		846,116		847,600		765,372
Fixed Charges:
Interest and amortization expense	10,226		18,892		31,525		31,585		35,055
Interest portion of rent expense	1,162		1,000		1,004		638		918
Fixed charges	11,388		19,892		32,529		32,223		35,973
Capitalized interest	—		—		—		—		—
Total fixed charges	$	11,388	$	19,892	$	32,529	$	32,223	$	35,973
Ratio of earnings to fixed charges	80.2		54.4		26.0		26.3		21.3