EX-12.1 2 exhibit121_102811.htm EX-12.1 Exhibit 12.1_102811


EXHIBIT 12.1
 
DELL INC.
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
Nine Months Ended
 
Fiscal Year Ended
 
 
October 28,
2011
 
January 28,
2011
 
January 29, 2010
 
January 30, 2009
 
February 1,
2008
 
February 2,
2007
 
 
(in millions, except ratios)
Earnings
 
 
 
 
 
 

 
 
 
 

 
 

Pre-tax income from continuing operations
 
$
3,333

 
$
3,350

 
$
2,024

 
$
3,324

 
$
3,827

 
$
3,345

Add: Fixed Charges
 
229

 
228

 
191

 
132

 
84

 
71

Add: Noncontrolling interest
 
—

 
—

 
—

 
—

 
29

 
23

Total
 
$
3,562

 
$
3,578

 
$
2,215

 
$
3,456

 
$
3,940

 
$
3,439

Fixed Charges(a) 
 
 
 
 
 
 

 
 

 
 

 
 

Interest Expense
 
$
204

 
$
199

 
$
160

 
$
93

 
$
45

 
$
45

Estimate of interest in rent expense
 
25

 
29

 
31

 
39

 
39

 
26

Total
 
$
229

 
$
228

 
$
191

 
$
132

 
$
84

 
$
71

Ratio of Earnings to Fixed Charges
 
16

 
16

 
12

 
26

 
47

 
49

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