Exhibit 12.1
ViaSat, Inc.
Computation of Ratio of Earnings to Fixed Charges
Fiscal Year Ended | Nine Months Ended | |||||||||||||||||||||||
(in thousands, except for ratios) | Apr. 1, 2011 | Mar. 30, 2012 | Mar. 29, 2013 | Apr. 4, 2014 | Apr. 3, 2015 | Dec. 31, 2015 | ||||||||||||||||||
Computation of earnings: | ||||||||||||||||||||||||
Income (loss) attributable to ViaSat, Inc. before income tax expense (benefit) (1) | $ | 36,113 | $ | (6,155 | ) | $ | (91,226 | ) | $ | (35,393 | ) | $ | 54,190 | $ | 16,001 | |||||||||
Fixed charges, as calculated below | 32,822 | 35,719 | 48,683 | 47,822 | 49,607 | 41,840 | ||||||||||||||||||
Amortization of capitalized interest | 55 | 1,768 | 4,937 | 5,460 | 6,352 | 4,914 | ||||||||||||||||||
Capitalized interest | (28,300 | ) | (25,900 | ) | (3,100 | ) | (8,100 | ) | (16,200 | ) | (20,900 | ) | ||||||||||||
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Total earnings | $ | 40,690 | $ | 5,432 | $ | (40,706 | ) | $ | 9,789 | $ | 93,949 | $ | 41,855 | |||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense including amortization of debt discount, premium and issuance costs | 3,154 | 8,307 | 43,993 | 37,938 | 31,448 | 19,343 | ||||||||||||||||||
Capitalized interest | 28,300 | 25,900 | 3,100 | 8,100 | 16,200 | 20,900 | ||||||||||||||||||
Estimated interest within rental expense | 1,368 | 1,512 | 1,590 | 1,784 | 1,959 | 1,597 | ||||||||||||||||||
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Total fixed charges | $ | 32,822 | $ | 35,719 | $ | 48,683 | $ | 47,822 | $ | 49,607 | $ | 41,840 | ||||||||||||
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Ratio of earnings to fixed charges(1) | 1.24 | — | — | — | 1.89 | 1.00 |
(1) | Due to the loss attributable to ViaSat, Inc. before income tax benefit for the fiscal years ended March 30, 2012, March 29, 2013 and April 4, 2014, the ratio of earnings to fixed charges for these years was less than 1.00. Additional earnings of $30.3 million, $89.4 million and $38.0 million would have been required to achieve a ratio of 1:1 for the fiscal years ended March 30, 2012, March 29, 2013 and April 4, 2014, respectively. The fiscal year ended March 29, 2013 includes loss on extinguishment of debt of $26.5 million. The ratio of earnings to fixed charges, adjusted to exclude loss on early extinguishment of debt, was less than 1.00 for the fiscal year ended March 29, 2013, and additional earnings of $62.9 million would have been required to achieve a ratio of 1:1. |