EX-12.1 4 d400578dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Workday, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands)

 

     Year ended January 31,  
     2017     2016     2015     2014     2013  

Earnings

          

Loss before provision for (benefit from) income taxes

   $ (409,092   $ (288,901   $ (245,972   $ (170,831   $ (119,066

Fixed charges

     57,578       47,304       41,218       25,702       5,450  

Interest capitalized

     (3,328     (51     —         —         —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings as defined

   $ (354,842   $ (241,648   $ (204,754   $ (145,129   $ (113,616
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

          

Interest expense (1)

   $ 8,566     $ 8,547     $ 8,972     $ 6,519     $ 1,363  

Amortization of debt discount

     24,864       23,435       22,088       13,099       —    

Estimated interest component of rental expense (2)

     24,148       15,322       10,158       6,084       4,087  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges as defined

   $ 57,578     $ 47,304     $ 41,218     $ 25,702     $ 5,450  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     —         —         —         —         —    

Deficiency of earnings available to cover fixed charges

   $ 414,420     $ 288,952     $ 245,972     $ 170,831     $ 119,066  

 

(1) Interest expense includes amortization expense for debt issuance costs and capitalized interest.
(2) One-third of net rent expense is the portion deemed representative of the interest factor.