Applied Materials (AMAT) 8-K Other Events

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratios)

	Three Months Ended January 29, 2017			Fiscal Year Ended
				October 30, 2016			October 25, 2015			October 26, 2014			October 27, 2013			October 28, 2012
Income from continuing operations before taxes		771			2,013			1,598			1,448			350			316
Add adjustments:
Fixed charges		42			170			116			109			109			109
Income from continuing operations before taxes and fixed charges		813			2,183			1,714			1,557			459			425
Fixed charges:
Interest expense (b)		38			156			104			96			96			96
Amortization of discounts and capitalized expenses related to indebtedness		1			3			2			2			2			2
Estimated interest component of rental expense		3			11			10			11			11			11
Total fixed charges from continuing operations		42			170			116			109			109			109
Ratio of earnings to fixed charges (a)		19.4	x		12.8	x		14.8	x		14.3	x		4.2	x		3.9	x

(a) The ratio of earnings to fixed charges was computed by dividing income from continuing operations before taxes and fixed charges by the fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include interest expense, amortization of discounts and debt issuance costs and 30% of rental expense, which Applied considers to be a reasonable approximation of the interest factor included in rental expense.

(b) Interest expense does not include interest expense related to uncertain tax positions as a component of fixed charges. Interest expense related to uncertain tax positions is included as a component of provision for income taxes.