EX-12.1 2 a121ratioofearningstofixed.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1

Lam Research Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
 
Nine Months
 
Fiscal Years Ended
 
Ended
 
June 28,
 
June 29,
 
June 30,
 
June 24,
 
June 26,
 
March 27, 2016
 
2015
 
2014
 
2013
 
2012
 
2011
Ratio of earnings to fixed charges 1
7.6

 
11.0

 
12.6

 
2.1

 
6.2

 
72.4

Income before income taxes
$
678,125

 
$
740,850

 
$
723,363

 
$
66,658

 
$
204,418

 
$
800,876

Less: Income (loss) from equity investees
—

 
—

 
683

 
1,171

 
(246
)
 
—

Add: Interest Expense
101,294

 
73,682

 
61,692

 
60,408

 
38,962

 
5,380

Interest component of rental expense
874

 
647

 
760

 
759

 
638

 
5,839

Adjusted Earnings
$
780,293

 
$
815,179

 
$
785,132

 
$
126,654

 
$
244,264

 
$
812,095

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1 For purposes of computing our ratio of earnings to fixed charges, earnings consist of earnings (loss) before income taxes and cumulative effect of accounting change plus interest expensed; and fixed charges consist of interest expensed, interest capitalized and amortized premiums, discounts and capitalized expenses related to indebtedness.