Exhibit 12.1
QUANTUM CORPORATION
EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIOS
OF EARNINGS TO FIXED CHARGES
|
(in thousands) |
For the year ended March 31, |
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2003 |
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2002 |
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2001 |
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2000 |
|
1999 |
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Income (loss) from continuing operations before income taxes |
$ |
(137,173 |
) |
$ |
(58,612 |
) |
$ |
309,675 |
$ |
321,546 |
$ |
264,318 |
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|
Add fixed charges |
30,486 |
29,009 |
22,725 |
22,645 |
21,655 |
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|
Earnings (as defined) |
$ |
(106,687 |
) |
$ |
(29,603 |
) |
$ |
333,514 |
$ |
344,191 |
$ |
285,973 |
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Fixed charges |
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|
Interest expense |
$ |
24,419 |
$ |
22,976 |
$ |
17,658 |
$ |
18,978 |
$ |
18,322 |
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Amortization of debt issuance costs |
(i) |
(i) |
(i) |
(i) |
(i) |
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|
Estimated interest component of rent expenses |
6,067 |
6,033 |
5,067 |
3,667 |
3,333 |
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Total fixed charges |
$ |
30,486 |
$ |
29,009 |
$ |
22,725 |
$ |
22,645 |
$ |
21,655 |
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Ratio of earnings to fixed charges |
Note (ii) |
Note (ii) |
14.6 |
15.2 |
13.2 |
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(i) In all years presented, the amortization of debt issuance costs is included in interest expense.
(ii) Earnings, as defined, were insufficient to cover fixed charges by $137.2 million and $58.6 million for fiscal years 2003 and 2002, respectively.