Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges (in thousands, except ratios)
Historical Brocade
| Three Months Ended | Fiscal Year Ended | |||||||||||||||||||||||||||
| January 31, 2016 |
January 31, 2015 |
October 31, 2015 |
November 1, 2014 |
October 26, 2013 |
October 27, 2012 |
October 29, 2011 |
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| Earnings from continuing operations before taxes |
$ | 111,770 | 113,422 | $ | 439,051 | $ | 353,621 | $ | 330,461 | $ | 224,401 | $ | 79,428 | |||||||||||||||
| Adjustments: |
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| Add fixed charges from continuing operations |
11,019 | 26,519 | 59,949 | 41,401 | 60,698 | 55,745 | 101,349 | |||||||||||||||||||||
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| Earnings before taxes and fixed charges |
$ | 122,789 | $ | 139,941 | $ | 499,000 | $ | 395,022 | $ | 391,159 | $ | 280,146 | $ | 180,777 | ||||||||||||||
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| Fixed charges: |
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| Interest expense |
$ | 9,865 | $ | 25,424 | $ | 55,578 | $ | 36,757 | $ | 55,261 | 52,488 | $ | 97,838 | |||||||||||||||
| Interest component of rent expense |
1,154 | 1,095 | 4,371 | 4,644 | 5,437 | 3,257 | 3,511 | |||||||||||||||||||||
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| Total fixed charges from continuing operations |
$ | 11,019 | $ | 26,519 | $ | 59,949 | $ | 41,401 | $ | 60,698 | $ | 55,745 | $ | 101,349 | ||||||||||||||
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| Ratio of earnings to fixed charges (1) |
11.1 | 5.3 | 8.3 | 9.5 | 6.4 | 5 | 1.8 | |||||||||||||||||||||
| Coverage deficiency |
— | — | — | — | — | — | — | |||||||||||||||||||||
| (1) | The ratio of earnings to fixed charges was computed by dividing earnings from continuing operations before taxes and fixed charges, by total fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and capitalization and amortization of debt discount and issuance costs on all indebtedness and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense. |
Pro Forma Combined
| Three Months Ended |
Fiscal Year Ended |
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| January 31, 2016 | October 31, 2015 | |||||||
| Earnings from continuing operations before taxes |
$ | 97,113 | $ | 368,134 | ||||
| Adjustments: |
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| Add fixed charges from continuing operations |
15,640 | 79,035 | ||||||
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| Earnings before taxes and fixed charges |
$ | 112,753 | $ | 447,169 | ||||
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| Fixed charges: |
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| Interest expense |
14,123 | 72,316 | ||||||
| Interest component of rent expense |
1,517 | 6,719 | ||||||
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| Total fixed charges from continuing operations |
$ | 15,640 | $ | 79,035 | ||||
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| Ratio of earnings to fixed charges (1) |
7.21 | 5.66 | ||||||
| Coverage deficiency |
— | — | ||||||
| (1) | The ratio of earnings to fixed charges was computed by dividing earnings from continuing operations before taxes and fixed charges, by total fixed charges from continuing operations for the periods indicated. Fixed charges from continuing operations include (i) interest expense and capitalization and amortization of debt discount and issuance costs on all indebtedness and (ii) one-third of all rental expense, which the Company considers to be a reasonable approximation of the interest factor included in rental expense. |