QUANTUM CORPORATION EXHIBIT 12 STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Year Ended March 31, ----------------------------------------------- 1995 1996 1997 1998 1999 -------- --------- -------- -------- ------- (In thousands) Income (loss) before income taxes........................ $145,305 $(141,338) $200,696 $230,814 $ (185) Add fixed charges............. 29,277 48,226 56,669 41,711 38,117 -------- --------- -------- -------- ------- Earnings (as defined)....... $174,582 $ (93,112) $257,365 $272,525 $37,932 ======== ========= ======== ======== ======= Fixed charges Interest expense............ $ 21,557 $ 35,904 $ 47,882 $ 32,753 $27,481 Amortization of debt issuance costs 1,458 2,427 (i) (i) (i) Estimated interest component of rent expenses........... 6,262 9,895 8,787 8,958 10,636 -------- --------- -------- -------- ------- Total fixed charges........... $ 29,277 $ 48,226 $ 56,669 $ 41,711 $38,117 ======== ========= ======== ======== ======= Ratio of earnings to fixed charges 6.0 (ii) 4.5 6.5 (iii) ======== ======== ========
- -------- (i) In 1997, 1998, and 1999 the amortization of debt issuance costs is included in interest expense. (ii) Earnings (as defined) for fiscal year 1996 were insufficient to cover fixed charges by $141.3 million. (iii) Earnings (as defined) for fiscal year 1999 were insufficient to cover fixed charges by $0.2 million.