EX-12.1 5 jnpr-20161231ex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12.1

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

 
Years Ended December 31,
 
2016(*)
 
2015(*)
 
2014(*)
 
2013(*)
 
2012(*)
Earnings for computation of ratio:
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes and
    before adjustment for
    noncontrolling interests in
    consolidated subsidiaries or income
    from equity investees
$
827.4

 
$
852.2

 
$
(86.3
)
 
$
518.4

 
$
266.0

Plus:
 
 
 
 
 
 
 
 
 
Fixed charges
109.4

 
98.5

 
83.3

 
76.1

 
72.0

Amortization of capitalized interest
1.3

 
0.8

 
0.5

 
0.4

 
—

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
(0.4
)
 
(2.2
)
 
(2.7
)
 
(1.9
)
 
(7.1
)
Total earnings (loss)
$
937.7

 
$
949.3

 
$
(5.2
)
 
$
593.0

 
$
330.9

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
95.7

 
$
81.9

 
$
66.0

 
$
58.1

 
$
52.2

Interest capitalized
0.4

 
2.2

 
2.7

 
1.9

 
—

Amortized premiums, discounts, and capitalized expenses relating to indebtedness
1.9

 
1.4

 
0.8

 
0.3

 
0.8

Estimate of interest within rental
   expense
11.4

 
13.0

 
13.8

 
15.8

 
19.0

Total fixed charges
$
109.4

 
$
98.5

 
$
83.3

 
$
76.1

 
$
72.0

 
 
 
 
 
 
 
 
 
 
Ratio of earnings (loss) to fixed charges
8.6x

 
9.6x


(0.1)x

 
7.8x

 
4.6x

________________________________
(*) 
For this ratio, both "earnings" and “fixed charges” conform to the calculation required by Item 503(d) of Regulation S-K.