Attached files
| file | filename |
|---|---|
| 10-K - 10-K - COMPUTER SCIENCES CORP | cscfy1710-k.htm |
| EX-32.2 - EXHIBIT 32.2 - COMPUTER SCIENCES CORP | cscfy1710-kex322.htm |
| EX-32.1 - EXHIBIT 32.1 - COMPUTER SCIENCES CORP | cscfy1710-kex321.htm |
| EX-31.2 - EXHIBIT 31.2 - COMPUTER SCIENCES CORP | cscfy1710-kex312.htm |
| EX-31.1 - EXHIBIT 31.1 - COMPUTER SCIENCES CORP | cscfy1710-kex311.htm |
| EX-23 - EXHIBIT 23 - COMPUTER SCIENCES CORP | cscfy1710-kex23consentlett.htm |
| EX-10.67 - EXHIBIT 10.67 - COMPUTER SCIENCES CORP | cscfy1710-kex1067.htm |
| EX-10.63 - EXHIBIT 10.63 - COMPUTER SCIENCES CORP | cscfy1710-kex1063.htm |
| EX-10.61 - EXHIBIT 10.61 - COMPUTER SCIENCES CORP | cscfy1710-kex1061.htm |
| EX-10.56 - EXHIBIT 10.56 - COMPUTER SCIENCES CORP | cscfy1710-kex1056.htm |
| EX-10.54 - EXHIBIT 10.54 - COMPUTER SCIENCES CORP | cscfy1710-kex1054.htm |
| EX-2.5 - EXHIBIT 2.5 - COMPUTER SCIENCES CORP | cscfy1710-kex25.htm |
Exhibit 12.1
COMPUTER SCIENCES CORPORATION
Calculation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
(unaudited)
Fiscal years ended | ||||||||||||||||||||||
(in millions, except ratios) | March 31, 2017 | April 1, 2016 | April 3, 2015 | March 28, 2014 | March 29, 2013 | |||||||||||||||||
Earnings: | ||||||||||||||||||||||
Pre-tax (loss) income from continuing operations before adjustment for income or loss from equity investees | $ | (174 | ) | $ | 10 | $ | (671 | ) | $ | 694 | $ | (249 | ) | |||||||||
Fixed charges | 166 | 271 | 172 | 193 | 235 | |||||||||||||||||
Less: Preference security dividend requirements of consolidated subsidiaries | (1 | ) | (2 | ) | (3 | ) | (2 | ) | — | |||||||||||||
Earnings as adjusted | $ | (9 | ) | $ | 279 | $ | (502 | ) | $ | 885 | $ | (14 | ) | |||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expense (a) | $ | 117 | $ | 123 | $ | 126 | $ | 128 | $ | 165 | ||||||||||||
Loss on early extinguishment of debt(b) | — | 97 | — | — | — | |||||||||||||||||
Portion of rental expense representative of the interest factor (c) | 49 | 51 | 46 | 65 | 70 | |||||||||||||||||
Fixed Charges | $ | 166 | $ | 271 | $ | 172 | $ | 193 | $ | 235 | ||||||||||||
Combined fixed charges and preference dividends: | ||||||||||||||||||||||
Interest expense (a) | $ | 117 | $ | 123 | $ | 126 | $ | 128 | $ | 165 | ||||||||||||
Loss on early extinguishment of debt(b) | — | 97 | — | — | — | |||||||||||||||||
Portion of rental expense representative of the interest factor (c) | 49 | 51 | 46 | 65 | 70 | |||||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | 1 | 2 | 3 | 2 | — | |||||||||||||||||
Combined fixed charges and preference dividends | $ | 167 | $ | 273 | $ | 175 | $ | 195 | $ | 235 | ||||||||||||
Ratios: | ||||||||||||||||||||||
Ratio of earnings to fixed charges | — | (d) | 1.0 | — | (f) | 4.6 | — | (h) | ||||||||||||||
Ratio of earnings to combined fixed charges and preference dividends | — | (e) | 1.0 | — | (g) | 4.5 | — | (h) | ||||||||||||||
(a) | Interest expense includes amortization of debt discount and deferred loan costs. |
(b) | The fiscal 2016 loss on early extinguishment of debt is related to the Company's redemption of all outstanding 6.50% term notes due March 2018. |
(c) | One-third of the rent expense is the portion of rental expense deemed representative of the interest factor. |
(d) | Earnings were insufficient to cover fixed charges during fiscal 2017 by $175 million. |
(e) | Earnings were insufficient to cover combined fixed charges and preference dividends during fiscal 2017 by $176 million. |
(f) | Earnings were insufficient to cover fixed charges during fiscal 2015 by $674 million. |
(g) | Earnings were insufficient to cover combined fixed charges and preference dividends during fiscal 2015 by $677 million. |
(h) | Earnings were insufficient to cover both fixed charges and combined fixed charges and preference dividends during fiscal 2013 by $249 million. |