EX-12.1 4 jnpr-20140331ex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES JNPR Q1 3-31-14 ex12.1


EXHIBIT 12.1

Juniper Networks, Inc.
Statements of Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios)

 
Three Months Ended
 
Years Ended December 31,
 
3/31/14(*)
 
2013(*)
 
2012(*)
 
2011(*)
 
2010(*)
 
2009(*)
Earnings for computation of ratio:
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
  before adjustment for noncontrolling
  interests in consolidated subsidiaries or
  income from equity investees
$
148.0

 
$
518.4

 
$
266.0

 
$
572.0

 
$
769.5

 
$
317.6

Fixed charges
20.2

 
76.1

 
72.0

 
69.2

 
16.8

 
17.0

Amortization of capitalized interest
0.1

 
0.4

 
—

 
—

 
—

 
—

Less:
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
(0.7
)
 
(1.9
)
 
(7.1
)
 
(1.2
)
 
—

 
—

Noncontrolling interest in pre-tax income
  of subsidiaries that have not incurred
  fixed charges
—

 
—

 
—

 
—

 
(1.3
)
 
—

Total earnings
$
167.6

 
$
593.0

 
$
330.9

 
$
640.0

 
$
785.0

 
$
334.6

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
15.4

 
$
58.1

 
$
52.2

 
$
48.9

 
$
—

 
$
—

Interest capitalized
0.7

 
1.9

 
 
 
 
 
 
 
 
Amortized premiums, discounts, and
  capitalized expenses relating to
  indebtedness
0.2

 
0.3

 
0.8

 
0.6

 
—

 
—

Estimate of interest within rental expense
3.9

 
15.8

 
19.0

 
19.7

 
16.8

 
17.0

Total fixed charges
$
20.2

 
$
76.1

 
$
72.0

 
$
69.2

 
$
16.8

 
$
17.0

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
8.3

 
7.8

 
4.6

 
9.2

 
46.8

 
19.7

________________________________
(*) 
For these ratios, "earnings" represents income before taxes before adjustment for noncontrolling interests in equity investments and fixed charges, adjusted for interest capitalized and noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges.