Apple 2014 Annual Report Download - page 112
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Exhibit 12.1
Apple Inc.
Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios)
Years ended
September 27,
2014 September 28,
2013 September 29,
2012 September 24,
2011 September 25,
2010
Earnings:
Earnings before income taxes $53,483 $50,155 $55,763 $34,205 $18,540
Add: Fixed Charges 527 265 98 68 54
Total Earnings $54,010 $50,420 $55,861 $34,273 $18,594
Fixed Charges (1):
Interest Expense $ 384 $ 136 $ 0 $ 0 $ 0
Interest component of rental expense 143 129 98 68 54
Total Fixed Charges $ 527 $ 265 $ 98 $ 68 $ 54
Ratio of Earnings to Fixed Charges (2) 102 190 570 504 344
(1) Fixed charges include the portion of rental expense that management believes is representative of the interest
component.
(2) The ratio of earnings to fixed charges is computed by dividing Total Earnings by Total Fixed Charges.