EX-12.1 3 csc328201410-kexhibit121.htm EXHIBIT 12.1 CSC 3.28.2014 10-K EX 12.1
Exhibit 12.1

COMPUTER SCIENCES CORPORATION

Calculation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
(unaudited)


 
 
 
Twelve Months Ended
(Amounts in millions, except ratios)
 
March 28, 2014
 
March 29, 2013(d)
 
March 30, 2012(d)
 
April 1, 2011(d)
 
April 2, 2010(d)
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees
 
$
910

 
$
449

 
$
(4,487
)
 
$
826

 
$
877

 
Fixed charges
 
240

 
289

 
282

 
277

 
310

 
Distributed income from equity investees
 
3

 
11

 
7

 
12

 
14

 
Less: Preference security dividend requirements of consolidated subsidiaries
 
(2
)
 
—

 
—

 
—

 
(1
)
 
Earnings as adjusted
 
$
1,151

 
$
749

 
$
(4,198
)
 
$
1,115

 
$
1,200

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense (a)
 
$
147

 
$
183

 
$
174

 
$
167

 
$
212

 
Portion of rental expense representative of the interest factor (b)
 
93

 
106

 
108

 
110

 
98

 
Fixed Charges
 
$
240

 
$
289

 
$
282

 
$
277

 
$
310

 
 
 
 
 
 
 
 
 
 
 
 
Combined fixed charges and preference dividends:
 
 
 
 
 
 
 
 
 
 
 
Interest expense (a)
 
$
147

 
$
183

 
$
174

 
$
167

 
$
212

 
Portion of rental expense representative of the interest factor (b)
 
93

 
106

 
108

 
110

 
98

 
Preference security dividend requirements of consolidated subsidiaries
 
2

 
—

 
—

 
—

 
1

 
Combined fixed charges and preference dividends
 
$
242

 
$
289

 
$
282

 
$
277

 
$
311

 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.8

 
2.6

 
—

(c) 
4.0

 
3.9

 
Ratio of earnings to combined fixed charges and preference dividends
 
4.8

 
2.6

 
—

(c) 
4.0

 
3.9


(a) 
Interest expense includes amortization of debt discount and deferred loan costs.    
(b) 
One-third of the rent expense is the portion of rental expense deemed representative of the interest factor.    
(c) 
Earnings were insufficient to cover both fixed charges and combined fixed charges and preference dividends during fiscal 2012 by $4,480 million.    
(d) 
Fiscal 2013 and prior year amounts have been recast to present discontinued operations of two businesses divested in fiscal 2014, and a business that in fiscal 2014 CSC committed to a plan to sell.