EX-12.1 6 wdc-2019q1ex121.htm EX 12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1

Western Digital Corporation
Computation of Ratio of Earnings to Fixed Charges
 
Fiscal Year
 
Three months ended September 28, 2018
 
2014
 
2015
 
2016
 
2017
 
2018
 
 
(in millions)
 
 
Computation of earnings:
 
 
 
 
 
 
 
 
 
 
 
Income before provision for income taxes
$
1,752

 
$
1,577

 
$
153

 
$
769

 
$
2,085

 
$
583

Fixed charges
75

 
69

 
285

 
871

 
692

 
120

Undistributed equity in income from 50%-or-less-owned affiliates
—

 
—

 
(1
)
 
(6
)
 
(3
)
 
(3
)
Adjusted earnings
$
1,827

 
$
1,646

 
$
437

 
$
1,634

 
$
2,774

 
$
700

Computation of fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
56

 
$
49

 
$
266

 
$
847

 
$
676

 
$
116

Interest relating to lease guarantee of 50%-or-less-owned affiliates
—

 
—

 
—

 
6

 
—

 
—

Estimated interest portion of operating lease expense (1)
19

 
20

 
19

 
18

 
16

 
4

Fixed charges
$
75

 
$
69

 
$
285

 
$
871

 
$
692

 
$
120

Ratio of earnings to fixed charges
24.4
x
 
23.9
x
 
1.5
x
 
1.9
x
 
4.0
x
 
5.8
x
 
 
(1) 
Interest is estimated at 33% of rental charges, which considers industry benchmarks and assumption of average debt service cost over the assumed life of the related property.