EX-12.1 2 exhibit121_020312.htm EX-12.1 Exhibit 12.1_020312


EXHIBIT 12.1
 
DELL INC.
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
Fiscal Year Ended
 
 
February 3, 2012
 
January 28, 2011
 
January 29, 2010
 
January 30,
2009
 
February 1,
2008
 
 
(in millions, except ratios)
Earnings
 
 
 
 

 
 
 
 

 
 

Pre-tax income from continuing operations
 
$
4,240

 
$
3,350

 
$
2,024

 
$
3,324

 
$
3,827

Add: Fixed Charges adjusted for capitalized interest
 
315

 
228

 
191

 
132

 
84

Add: Noncontrolling interest
 
—

 
—

 
—

 
—

 
29

Total
 
$
4,555

 
$
3,578

 
$
2,215

 
$
3,456

 
$
3,940

Fixed Charges(a) 
 
 
 
 
 
 

 
 

 
 

Interest Expense
 
$
279

 
$
199

 
$
160

 
$
93

 
$
45

Capitalized interest
 
—

 
—

 
—

 
—

 
—

Estimate of interest in rent expense
 
36

 
29

 
31

 
39

 
39

Total
 
$
315

 
$
228

 
$
191

 
$
132

 
$
84

Ratio of Earnings to Fixed Charges
 
14

 
16

 
12

 
26

 
47

____________________________
(a) 
Fixed charges included in the calculation of this ratio consist of: (i) interest expensed, plus (ii) interest capitalized (when applicable), plus (iii) a reasonable estimation of the interest factor included in rental expense.