EX-12.1 4 ex121-xearningtofixedcharg.htm EXHIBIT 12.1 Exhibit

Exhibit 12.1

salesforce.com, inc.

Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratio)

 
Nine months ended October 31,
 
Year ended January 31,
 
2017
 
2016
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense on capital leases
25,058

 
30,400

 
39,416

 
32,315

 
23,176

 
16,186

 
2,575

Interest on unresolved tax issues
(322
)
 
(228
)
 
217

 
1,330

 
1,253

 
647

 
341

Interest on debt payments
17,048

 
11,401

 
19,027

 
11,546

 
8,861

 
9,611

 
3,280

Capitalized interest
0

 
0

 
0

 
824

 
801

 
560

 
2,400

Amortization of amounts related to debt and transaction costs
23,265

 
21,334

 
30,541

 
27,467

 
39,620

 
49,582

 
24,086

Operating leases rent expense for space
109,252

 
83,457

 
115,844

 
93,007

 
109,377

 
94,820

 
66,774

Estimate of interest within operating leases for space
32,775

 
25,037

 
34,753

 
27,902

 
32,813

 
28,446

 
20,032

Total rent expense
213,787

 
163,475

 
226,000

 
174,600

 
162,800

 
123,600

 
88,300

Estimate of interest within operating leases for equipment
5,227

 
4,001

 
5,508

 
4,080

 
2,671

 
1,439

 
1,076

Fixed charges
103,051

 
91,945

 
129,462

 
105,464

 
109,195

 
106,471

 
53,790

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income (loss)
113,891

 
48,852

 
25,383

 
64,279

 
(213,085
)
 
(357,935
)
 
(127,794
)
Fixed charges
103,050

 
91,945

 
129,463

 
105,464

 
109,195

 
106,471

 
53,790

Amortization of capitalized interest
306

 
433

 
557

 
700

 
548

 
526

 
343

Equity method accounting losses
2,965

 
0

 
0

 
0

 
0

 
476

 
890

Capitalized interest
0

 
0

 
0

 
(824
)
 
(801
)
 
(560
)
 
(2,400
)
Earnings
220,212

 
141,230

 
155,403

 
169,619

 
(104,143
)
 
(251,022
)
 
(75,171
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.1x

 
1.5x

 
1.2x

 
1.6x

 
N/A

 
N/A

 
N/A