EX-12.1 4 d129656dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

ViaSat, Inc.

Computation of Ratio of Earnings to Fixed Charges

 

     Fiscal Year Ended     Nine Months
Ended
 

(in thousands, except for ratios)

   Apr. 1,
2011
    Mar. 30,
2012
    Mar. 29,
2013
    Apr. 4,
2014
    Apr. 3,
2015
    Dec. 31,
2015
 

Computation of earnings:

          

Income (loss) attributable to ViaSat, Inc. before income tax expense (benefit) (1)

   $ 36,113      $ (6,155   $ (91,226   $ (35,393   $ 54,190      $ 16,001   

Fixed charges, as calculated below

     32,822        35,719        48,683        47,822        49,607        41,840   

Amortization of capitalized interest

     55       1,768       4,937        5,460        6,352        4,914   

Capitalized interest

     (28,300     (25,900     (3,100     (8,100     (16,200     (20,900
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

   $ 40,690      $ 5,432      $ (40,706   $ 9,789      $ 93,949      $ 41,855   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

          

Interest expense including amortization of debt discount, premium and issuance costs

     3,154        8,307        43,993        37,938        31,448        19,343   

Capitalized interest

     28,300       25,900        3,100        8,100        16,200        20,900   

Estimated interest within rental expense

     1,368        1,512        1,590        1,784        1,959        1,597   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 32,822      $ 35,719      $ 48,683      $ 47,822      $ 49,607      $ 41,840   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges(1)

     1.24                             1.89        1.00   

 

(1) Due to the loss attributable to ViaSat, Inc. before income tax benefit for the fiscal years ended March 30, 2012, March 29, 2013 and April 4, 2014, the ratio of earnings to fixed charges for these years was less than 1.00. Additional earnings of $30.3 million, $89.4 million and $38.0 million would have been required to achieve a ratio of 1:1 for the fiscal years ended March 30, 2012, March 29, 2013 and April 4, 2014, respectively. The fiscal year ended March 29, 2013 includes loss on extinguishment of debt of $26.5 million. The ratio of earnings to fixed charges, adjusted to exclude loss on early extinguishment of debt, was less than 1.00 for the fiscal year ended March 29, 2013, and additional earnings of $62.9 million would have been required to achieve a ratio of 1:1.