EX-12.1 40 dex121.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 Seagate Technology Holdings and Its Predecessor Computation of Ratio of Earnings to Fixed Charges (In millions)
Predecessor Seagate Technology Holdings ---------------------------------------------------- -------------------------------- Fiscal Year Ended ---------------------------------------- Nine July 1, Nov. 23 Nov. 23 Months 2000 to 2000 to 2000 to Ended June 27, July 3, July 2, June 30, Nov. 22, June 29, Mar. 30, Mar. 29, 1997 1998 1999 2000 2000 2001 2001 2002 -------- -------- ------- --------- --------- ---------- --------- --------- (in millions) Earnings: Income (loss) before income taxes $ 950 $ (722) $ 275 $ 641 $ (618) $ (101) $ (106) $ 403 Add back fixed charges: Interest expense 32 51 48 52 24 54 33 61 Amortization of debt discount and debt issuance costs -- -- -- -- -- 5 3 6 Interest portion of rent expense 14 17 16 12 4 5 3 6 -------- -------- ------- --------- --------- ---------- --------- --------- Adjusted earnings $ 996 $ (654) $ 339 $ 705 $ (590) $ (37) $ (67) $ 476 Total fixed charges $ 46 $ 68 $ 64 $ 64 $ 28 $ 64 $ 39 $ 73 Ratio of earnings to fixed charges 21.7x 5.3x 11.0x 6.5x Deficiency of earnings to fixed charges $ (654) $ (590) $ (37) $ (67)