Exhibit 12.01
Flextronics International Ltd.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
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| Fiscal Year Ended March 31, |
| Three Months |
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| 2011 |
| 2012 |
| 2013 |
| 2014 |
| 2015 |
| June 26, 2015 |
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| ($’s in thousands) |
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Calculation of Earnings: |
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Income from continuing operations |
| $ | 612,261 |
| $ | 520,770 |
| $ | 302,502 |
| $ | 365,594 |
| $ | 600,801 |
| $ | 110,850 |
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Provision for income taxes |
| 22,049 |
| 53,960 |
| 26,313 |
| 34,860 |
| 69,854 |
| 7,766 |
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Income from continuing operations before income taxes |
| $ | 634,310 |
| $ | 574,730 |
| $ | 328,815 |
| $ | 400,454 |
| $ | 670,655 |
| $ | 118,616 |
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Plus: |
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Fixed charges |
| $ | 95,736 |
| $ | 72,757 |
| $ | 73,414 |
| $ | 85,394 |
| $ | 81,062 |
| $ | 21,348 |
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Capitalized interest |
| (1,036 | ) | (78 | ) | (87 | ) | — |
| — |
| — |
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Distributed income of equity investees |
| 56 |
| 108 |
| 63 |
| 80 |
| 22 |
| 2,047 |
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Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
| — |
| — |
| — |
| — |
| — |
| — |
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Amortization of previously capitalized interest |
| 894 |
| 1,053 |
| 1,065 |
| 1,079 |
| 1,079 |
| 270 |
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Total earnings |
| $ | 729,960 |
| $ | 648,570 |
| $ | 403,270 |
| $ | 487,007 |
| $ | 752,818 |
| $ | 142,281 |
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Calculation of Fixed Charges: |
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Interest on all indebtedness and amortization of debt discount and expense |
| $ | 81,297 |
| $ | 60,117 |
| $ | 58,790 |
| $ | 75,288 |
| $ | 72,507 |
| $ | 19,120 |
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Capitalized interest |
| 1,036 |
| 78 |
| 87 |
| — |
| — |
| — |
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Discount, premium and capitalized expenses related to Indebtedness |
| 7,403 |
| 7,667 |
| 10,112 |
| 4,562 |
| 3,870 |
| 983 |
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Interest factor attributable to rentals |
| 6,000 |
| 4,895 |
| 4,425 |
| 5,544 |
| 4,685 |
| 1,245 |
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Total Fixed Charges |
| $ | 95,736 |
| $ | 72,757 |
| $ | 73,414 |
| $ | 85,394 |
| $ | 81,062 |
| $ | 21,348 |
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Ratio of Earnings to Fixed Charges |
| 7.6x |
| 8.9x |
| 5.5x |
| 5.7x |
| 9.3x |
| 6.7x |
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Deficiency of Earnings Available to Cover Fixed Charges |
| — |
| — |
| — |
| — |
| — |
| — |
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