Dell 2010 Annual Report Download - page 143

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EXHIBIT 12.1
DELL INC.
RATIO OF EARNINGS TO FIXED CHARGES
Fiscal Year Ended
January 28, January 29, January 30, February 1, February 2,
2011 2010 2009 2008 2007
(in millions, except ratios)
Earnings
Pre-tax income from continuing operations $ 3,350 $ 2,024 $ 3,324 $ 3,827 $ 3,345
Add: Fixed Charges adjusted for capitalized interest 228 191 132 84 71
Add: Noncontrolling interest - - - 29 23
Total $ 3,578 $ 2,215 $ 3,456 $ 3,940 $ 3,439
Fixed Charges(a)
Interest Expense $ 199 $ 160 $ 93 $ 45 $ 45
Capitalized interest - - - - -
Estimate of interest in rent expense 29 31 39 39 26
Total $ 228 $ 191 $ 132 $ 84 $ 71
Ratio of Earnings to Fixed Charges 16 12 26 47 49
(a) Fixed charges included in the calculation of this ratio consist of: (i) interest expensed, plus (ii) interest capitalized (when applicable), plus (iii) a reasonable
estimation of the interest factor included in rental expense.