Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - ADT Corp | Financial_Report.xls |
| 10-Q - 10-Q - ADT Corp | adt10-q306x27x2014.htm |
| EX-32 - EX-32 - ADT Corp | adt10q06-27x14exhibit32.htm |
| EX-31.1 - EX-31.1 - ADT Corp | adt10q06-27x14exhibit311.htm |
| EX-31.2 - EX-31.2 - ADT Corp | adt10q06-27x14exhibit312.htm |
Exhibit 12.1
The ADT Corporation
Computation of Ratio of Earnings to Fixed Charges (1)
(dollars in millions)
Nine Months Ended | Fiscal Year Ended | |||||||||||||||||||||||
June 27, 2014 | September 27, 2013 | September 28, 2012 | September 30, 2011 | September 24, 2010 | September 25, 2009 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 323 | $ | 642 | $ | 630 | $ | 604 | $ | 398 | $ | 393 | ||||||||||||
Add: | Fixed charges | 152 | 128 | 108 | 103 | 119 | 92 | |||||||||||||||||
Less: | Capitalized interest | — | — | — | — | 1 | 1 | |||||||||||||||||
$ | 475 | $ | 770 | $ | 738 | $ | 707 | $ | 516 | $ | 484 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 143 | $ | 118 | $ | 93 | $ | 90 | $ | 107 | $ | 82 | ||||||||||||
Capitalized interest | — | — | — | — | 1 | 1 | ||||||||||||||||||
Interest component of rental expense | 9 | 10 | 15 | 13 | 11 | 9 | ||||||||||||||||||
Total fixed charges | $ | 152 | $ | 128 | $ | 108 | $ | 103 | $ | 119 | $ | 92 | ||||||||||||
Ratio of earnings to fixed charges | 3.1 | 6.0 | 6.8 | 6.9 | 4.3 | 5.3 | ||||||||||||||||||
(1) | For purposes of determining the ratio of earnings to fixed charges, earnings consist of income from continuing operations before income taxes, fixed charges and amortization of capitalized interest, less interest capitalized. Fixed charges consist of interest expense (including amortization of debt discounts and amortization of capitalized expenses related to indebtedness), interest capitalized, and an appropriate interest factor on operating leases. Interest related to unrecognized tax benefits is recognized in income tax expense. Fixed charges represent amounts relating to continuing operations. |