Exhibit 12.1
Cisco Systems, Inc.
Ratio of earnings to fixed charges
(in millions)
| Three months ended October 29, 2005 |
Year ended |
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| July 30, 2005 |
July 31, 2004 |
July 26, 2003 |
July 27, 2002 |
July 28, 2001 |
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| Earnings before income taxes, minority interest and cumulative effect of accounting changes |
$ | 1,759 | $ | 8,036 | $ | 6,992 | $ | 5,013 | $ | 2,710 | $ | (874 | ) | ||||||
| Fixed charges |
14 | 54 | 57 | 59 | 80 | 114 | |||||||||||||
| Earnings |
$ | 1,773 | $ | 8,090 | $ | 7,049 | $ | 5,072 | $ | 2,790 | $ | (760 | ) | ||||||
| Fixed charges(a) |
$ | 14 | $ | 54 | $ | 57 | $ | 59 | $ | 80 | $ | 114 | |||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
131.3 | 150.6 | 123.0 | 86.3 | 35.1 | — | (b) | ||||||||||||
| (a) | Represents the estimate of the interest within rental expense. This amount includes 30 percent of the rental expense, which the Registrant believes is a reasonable approximation of the interest component of rental expense. |
| (b) | Earnings were inadequate to cover fixed charges by $874 million for the fiscal year ended July 28, 2001. |