EXHIBIT 12.1

MEDTRONIC, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

          The ratio of earnings to fixed charges for the three months ended July 31, 2009 was computed based on Medtronic’s current quarterly report on Form 10-Q. The ratio of earnings to fixed charges for the fiscal years ended April 24, 2009, April 25, 2008, April 27, 2007, April 28, 2006, and April 29, 2005 was computed based on Medtronic’s historical consolidated financial information.

	Three months ended July 31, 2009			Year ended April 24, 2009			Year ended April 25, 2008			Year ended April 27, 2007			Year ended April 28, 2006			Year ended April 29, 2005
Earnings:
Net earnings	$	445		$	2,070		$	2,138		$	2,703		$	2,519		$	1,797
Income taxes		116			370			602			658			598			736
Minority interest (loss)/income		2			1			—			—			—			(1	)
Capitalized interest (1)		(2	)		(5	)		(10	)		(3	)		(3	)		(1	)
	$	561		$	2,436		$	2,730		$	3,358		$	3,114		$	2,531
Fixed Charges:
Interest expense (2)	$	104		$	371		$	400		$	383		$	162		$	66
Capitalized interest (1)		2			5			10			3			3			1
Amortization of debt issuance costs (3)		3			15			15			17			7			1
Rent interest factor (4)		11			45			41			34			26			24
	$	120		$	436		$	466		$	437		$	198		$	92
Earnings before income taxes and fixed charges	$	681		$	2,872		$	3,196		$	3,795		$	3,312		$	2,623
Ratio of earnings to fixed charges		6			7			7			9			17			29

(1) Capitalized interest relates to construction projects in process.

(2) Interest expense consists of interest on indebtedness.

(3) Represents the amortization of debt issuance costs incurred in connection with the Company’s registered debt securities. See Note 9 to the condensed consolidated financial statements for further information regarding the debt securities.

(4) Approximately one-third of rental expense is deemed representative of the interest factor.