EXHIBIT 12.1

ADOBE SYSTEMS INCORPORATED

Consolidated Ratio of Earnings to Fixed Charges and

Consolidated Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios)	Year Ended
	November 28, 2014		November 29, 2013		November 30, 2012		December 2, 2011		December 3, 2010
Earnings:
Income before provision for      income taxes	$	361,376	$	356,141	$	1,118,794	$	1,035,230	$	943,151
Add: fix charges	87,720		94,794		94,721		94,511		82,953
Total earnings	$	449,096	$	450,935	$	1,213,515	$	1,129,741	$	1,026,104
Total fixed charges(*)	87,720		94,794		94,721		94,511		82,953
Ratio of earnings to fixed      charges	5.1		4.8		12.8		12.0		12.4

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^(*)  Fixed charges consist of interest charges, the amortization of debt issuance costs and an estimate of interest as a component of rental expense.

Currently, we have no shares of preferred stock outstanding and we have not paid any dividends on preferred stock in the periods presented. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are not different from the ratios of earnings to fixed charges.