Exhibit 12.1
Cisco Systems, Inc.
Ratio of earnings to fixed charges
(in millions)
| Three Months Ended October 25, 2008 |
Year ended | |||||||||||||||||
| July 26, 2008 | July 28, 2007 | July 29, 2006 | July 30, 2005 | July 31, 2004 | ||||||||||||||
| Earnings before income taxes, minority interest and cumulative effect of accounting changes |
$ | 2,605 | $ | 10,255 | $ | 9,461 | $ | 7,633 | $ | 8,036 | $ | 6,992 | ||||||
| Fixed charges |
86 | 406 | 443 | 202 | 54 | 57 | ||||||||||||
| Earnings |
$ | 2,691 | $ | 10,661 | $ | 9,904 | $ | 7,835 | $ | 8,090 | $ | 7,049 | ||||||
| Fixed charges(a) |
$ | 86 | $ | 406 | $ | 443 | $ | 202 | $ | 54 | $ | 57 | ||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
31.4 | 26.2 | 22.4 | 38.7 | 150.6 | 123.0 | ||||||||||||
| (a) | Included in fixed charges is an estimate of the interest within rental expense. This amount includes 30 percent of the rental expense, which the Company believes is a reasonable approximation of the interest component of rental expense. |