EX-12.1 2 jnpr-20170630ex121.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)

 
Six Months Ended
June 30,
 
Years Ended December 31,
 
2017
 
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
$
385.8

 
$
827.4

 
$
852.2

 
$
(86.3
)
 
$
518.4

 
$
266.0

Plus:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
56.0

 
109.4

 
98.5

 
83.3

 
76.1

 
72.0

Amortization of capitalized interest
0.7

 
1.3

 
0.8

 
0.5

 
0.4

 
—

Less:
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
—

 
(0.4
)
 
(2.2
)
 
(2.7
)
 
(1.9
)
 
(7.1
)
Total earnings (loss)
$
442.5

 
$
937.7

 
$
949.3

 
$
(5.2
)
 
$
593.0

 
$
330.9

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges(*):
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
49.3

 
$
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
1.0

 
1.9

 
1.4

 
0.8

 
0.3

 
0.8

Estimate of interest within rental
   expense
5.7

 
11.4

 
13.0

 
13.8

 
15.8

 
19.0

Total fixed charges
$
56.0

 
$
109.4

 
$
98.5

 
$
83.3

 
$
76.1

 
$
72.0

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings (loss) to fixed charges
7.9x

 
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.