Exhibit 12.1
ViaSat, Inc.
Computation of Ratio of Earnings to Fixed Charges
Fiscal Year Ended | Nine Months Ended | |||||||||||||||||||||||
(in thousands, except for ratios) | Mar. 28, 2008 | Apr. 3, 2009 | Apr. 2, 2010 | Apr. 1, 2011 | Mar. 30, 2012 | Dec. 28, 2012 | ||||||||||||||||||
Computation of earnings: | ||||||||||||||||||||||||
Income (loss) attributable to ViaSat, Inc. before income tax expense (benefit) (1) | $ | 47,034 | $ | 45,125 | $ | 36,574 | $ | 36,113 | $ | (6,155 | ) | $ | (73,710 | ) | ||||||||||
Fixed charges, as calculated below | 1,373 | 1,509 | 17,314 | 32,822 | 35,719 | 37,269 | ||||||||||||||||||
Amortization of capitalized interest | — | — | — | 55 | 1,768 | 3,642 | ||||||||||||||||||
Capitalized interest | — | — | (8,800 | ) | (28,300 | ) | (25,900 | ) | (2,300 | ) | ||||||||||||||
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Total earnings | $ | 48,407 | $ | 46,634 | $ | 45,088 | $ | 40,690 | $ | 5,432 | $ | (35,099 | ) | |||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense including amortization of debt discount, premium and issuance costs | 557 | 509 | 7,354 | 3,154 | 8,307 | 33,771 | ||||||||||||||||||
Capitalized interest | — | — | 8,800 | 28,300 | 25,900 | 2,300 | ||||||||||||||||||
Estimated interest within rental expense | 816 | 1,000 | 1,160 | 1,368 | 1,512 | 1,198 | ||||||||||||||||||
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Total fixed charges | $ | 1,373 | $ | 1,509 | $ | 17,314 | $ | 32,822 | $ | 35,719 | $ | 37,269 | ||||||||||||
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Ratio of earnings to fixed charges(1) | 35.26 | 30.90 | 2.60 | 1.24 | — | — |
(1) | Due to the loss attributable to ViaSat, Inc. before income tax benefit for the fiscal year ended March 30, 2012, the ratio of earnings to fixed charges was less than 1.00. Additional earnings of $30.3 million would have been required to achieve a ratio of 1:1. Due to the loss attributable to ViaSat, Inc. before income tax benefit for the nine months ended December 28, 2012, the ratio of earnings to fixed charges was less than 1.00. Additional earnings of $72.4 million would have been required to achieve a ratio of 1:1, which includes the effect of loss on extinguishment of debt of $26.5 million for the nine months ended December 28, 2012. |