EX-12 3 ex_12-1.txt EX_12-1-RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 ACTIVISION, INC. CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES [ACTIVISION LOGO] RATIO OF EARNINGS TO FIXED CHARGES Fiscal year ending March 31, ------------------------------------------------------------------------------------- 1999 2000 2001 2002 2003 ---------------- ---------------- ---------------- --------------- ------------------ Pre-tax income from continuing operations before loss in minority investees $ 23,636 $(38,636) $ 32,912 $ 83,500 $ 103,708 ---------------- ---------------- ---------------- --------------- ------------------ Fixed Charges Interest expense $ 4,974 $ 9,375 $ 9,399 $ 1,188 $ 933 Facility rent expense - 30% 1,316 1,316 1,409 1,604 2,270 Equipment rent expense - 25% 162 214 166 196 344 ---------------- ---------------- ---------------- --------------- ------------------ Total Fixed Charges $ 6,452 $ 10,905 $ 10,974 $ 2,988 $ 3,547 ---------------- ---------------- ---------------- --------------- ------------------ Pre-tax income from continuing operations before loss in minority investees, plus fixed charges $ 30,088 $(27,731) $ 43,886 $ 86,488 $ 107,255 ---------------- ---------------- ---------------- --------------- ------------------ Ratio of Earnings to Fixed Charges 4.66 A 4.00 28.95 30.24 ---------------- ---------------- ---------------- --------------- ------------------
A Due to the loss in fiscal year 2000, the ratio coverage was less than 1:1. Additional earnings of $38.6 million must be generated to achieve coverage of 1:1.