Exhibit 12.l MICRON TECHNOLOGY, INC. CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES (in millions except ratio amounts) Years ended -------------------------------------------------------------------- Sept. 3, Sept. 2, Sept. 1, Aug. 31 Aug. 29, 1992 1993 1994 1995 1996 --------- ---------- ---------- ---------- ---------- Income before income taxes................. $ 9.6 $ 162.6 $ 625.8 $ 1,350.5 $ 950.5 Adjustments to income before income taxes: Interest expense......................... 8.4 7.8 5.8 7.3 8.6 --------- ---------- ---------- ---------- ---------- Adjusted income before income taxes........ $ 18.0 $ 170.4 $ 631.6 $ 1,357.8 $ 959.1 ========= ========== ========== ========== ========== Fixed charges: Interest expense......................... $ 8.4 $ 7.8 $ 5.8 $ 7.3 $ 8.6 Adjustments to interest expense: Capitalized interest................... 0.2 0.3 2.6 4.9 7.5 Interest portion of rental expense..... 0.5 0.4 0.6 0.9 1.9 --------- ---------- ---------- ---------- ---------- Adjusted interest expense................ $ 9.1 $ 8.5 $ 9.0 $ 13.1 $ 18.0 ========= ========== ========== ========== ========== Ratio of earnings to fixed charges......... 2.0x 20.1x 69.9x 104.1x 53.3x