EX-12.1 6 b48675ecexv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATION OF RATIO . . . EXHIBIT 12.1 EMC Corporation Ratio of Earnings to Fixed Charges (unaudited)
Years Ended December 31, Nine months ended ----------------------------------------------------- (in millions) September 30, 2003 2002 2001 2000 1999 1998 ---------------------------------------------------------------------------- Earnings (loss) before fixed charges: Net income (loss) $276.0 $(118.7) $(507.7) $1,782.1 $1,010.6 $ 654.0 Income tax provision (benefit) 54.4 (177.8) (69.3) 659.1 346.6 260.3 ---------------------------------------------------------------------------- Income (loss) before taxes 330.4 (296.5) (577.0) 2,441.2 1,357.2 914.3 Fixed charges computed below 51.5 81.1 99.2 90.9 86.9 86.5 ---------------------------------------------------------------------------- Earnings (loss) before fixed charges $381.9 $(215.4) $(477.8) $2,532.1 $1,444.1 $1,000.8 ---------------------------------------------------------------------------- Fixed Charges: Interest expense $ 2.7 $ 11.4 $ 11.3 $ 14.6 $ 33.5 $ 34.8 Amortization of deferred charges on convertible notes -- -- -- 0.7 2.2 2.2 Interest portion of rent expense (b) 48.8 69.7 87.9 75.6 51.2 49.5 ---------------------------------------------------------------------------- Total fixed charges $ 51.5 $ 81.1 $ 99.2 $ 90.9 $ 86.9 $ 86.5 ---------------------------------------------------------------------------- Ratio of earnings to fixed charges 7.4 --(a) --(a) 27.9 16.6 11.6 ============================================================================
(a) EMC would need an additional $296.5 million and $577.0 million in additional earnings to cover its fixed charges in 2002 and 2001, respectively. (b) Represents the portion of rent expense estimated by management as implicit interest expense