Dell 10-Q 2013 Q3 Quarterly report

EXHIBIT 12.1

DELL INC.

RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended		Fiscal Year Ended
	November 2, 2012		February 3, 2012		January 28, 2011		January 29, 2010		January 30, 2009		February 1, 2008
	(in millions, except ratios)
Earnings
Pre-tax income from continuing operations	$	2,181	$	4,240	$	3,350	$	2,024	$	3,324	$	3,827
Add: Fixed Charges adjusted for capitalized interest	238		315		228		191		132		84
Add: Noncontrolling interest	—		—		—		—		—		29
Total	$	2,419	$	4,555	$	3,578	$	2,215	$	3,456	$	3,940
Fixed Charges(a)
Interest Expense	$	206	$	279	$	199	$	160	$	93	$	45
Capitalized interest	—		—		—		—		—		—
Estimate of interest in rent expense	32		36		29		31		39		39
Total	$	238	$	315	$	228	$	191	$	132	$	84
Ratio of Earnings to Fixed Charges	10		14		16		12		26		47

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^(a)  Fixed charges included in the calculation of this ratio consist of: (i) interest expensed, plus (ii) interest capitalized (when applicable), plus (iii) a reasonable estimation of the interest factor included in rental expense.