QUANTUM CORPORATION
EXHIBIT 12
STATEMENT OF COMPUTATION OF RATIOS
OF EARNINGS TO FIXED CHARGES
Year Ended March 31,
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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)
======== ======== ========
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(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.