Exhibit 12.1
Lam Research Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
| Fiscal Year Ended | ||||||||||||||||||||||||
| Six Months Ended Dec 28, 2014 |
June 29, 2014 |
June 30, 2013 |
June 24, 2012 |
June 26, 2011 |
June 27, 2010 |
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| Earnings1 |
$ | 341,592 | $ | 723,363 | $ | 66,658 | $ | 204,418 | $ | 800,876 | $ | 430,141 | ||||||||||||
| Income (loss) from equity investees |
— | 683 | 1,171 | (246 | ) | — | — | |||||||||||||||||
| Fixed charges2 |
32,325 | 62,452 | 61,167 | 39,600 | 11,219 | 10,850 | ||||||||||||||||||
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| Total earnings available for fixed charges |
$ | 373,917 | $ | 785,132 | $ | 126,654 | $ | 244,264 | $ | 812,095 | $ | 440,991 | ||||||||||||
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| Fixed charges: |
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| Interest expense |
$ | 31,501 | $ | 61,692 | $ | 60,408 | $ | 38,962 | $ | 5,380 | $ | 994 | ||||||||||||
| Interest portion of rental expense |
824 | 760 | 759 | 638 | 5,839 | 9,856 | ||||||||||||||||||
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| Total fixed charges |
$ | 32,325 | $ | 62,452 | $ | 61,167 | $ | 39,600 | $ | 11,219 | $ | 10,850 | ||||||||||||
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| Ratio of earnings to fixed charges |
11.6x | 12.6x | 2.1x | 6.2x | 72.4x | 40.6x | ||||||||||||||||||
| 1 | Earnings consist of pre-tax earnings before income (loss) from equity earnings in joint ventures, plus fixed charges. |
| 2 | Fixed charges consist of (i) interest expense on all indebtedness, including amortization of issuance costs, discounts and premiums and (ii) the portion of rental expense that is estimated as representative of the interest factor. |