Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - VERINT SYSTEMS INC | vrnt-ex322_20180131xform10.htm |
| EX-32.1 - EXHIBIT 32.1 - VERINT SYSTEMS INC | vrnt-ex321_20180131xform10.htm |
| EX-31.2 - EXHIBIT 31.2 - VERINT SYSTEMS INC | vrnt-ex312_20180131xform10.htm |
| EX-31.1 - EXHIBIT 31.1 - VERINT SYSTEMS INC | vrnt-ex311_20180131xform10.htm |
| EX-23.1 - EXHIBIT 23.1 - VERINT SYSTEMS INC | vrnt-ex231_20180131xform10.htm |
| EX-21.1 - EXHIBIT 21.1 - VERINT SYSTEMS INC | vrnt-ex211_20180131xform10.htm |
| EX-10.22 - EXHIBIT 10.22 - VERINT SYSTEMS INC | vrnt-ex1022_20180131xform1.htm |
| EX-10.14 - EXHIBIT 10.14 - VERINT SYSTEMS INC | vrnt-ex1014_20180131xform1.htm |
| EX-10.10 - EXHIBIT 10.10 - VERINT SYSTEMS INC | vrnt-ex1010_20180131xform1.htm |
| EX-10.8 - EXHIBIT 10.8 - VERINT SYSTEMS INC | vrnt-ex108_20180131xform10.htm |
| 10-K - FORM 10-K - VERINT SYSTEMS INC | vrnt-20180131xform10xk.htm |
EXHIBIT 12.1
Verint Systems Inc. and Subsidiaries
Ratios of Earnings to Fixed Charges
and
Ratios of Earnings to Combined Fixed Charges and Preference Security Dividends
Year Ended January 31, | ||||||||||||||||||||
(in thousands, except ratios) | 2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) before provision (benefit) for income taxes | $ | 18,900 | $ | (23,474 | ) | $ | 23,180 | $ | 21,403 | $ | 63,315 | |||||||||
Add: Fixed charges | 44,589 | 43,302 | 40,218 | 42,151 | 34,330 | |||||||||||||||
Subtract: Noncontrolling interest in pre-tax income of subsidiaries | (3,693 | ) | (3,616 | ) | (5,526 | ) | (6,293 | ) | (6,081 | ) | ||||||||||
$ | 59,796 | $ | 16,212 | $ | 57,872 | $ | 57,261 | $ | 91,564 | |||||||||||
Fixed Charges and Preference Security Dividends: | ||||||||||||||||||||
Interest expense, including amortization of discounts | $ | 21,750 | $ | 21,018 | $ | 20,586 | $ | 27,529 | $ | 27,119 | ||||||||||
Amortization of deferred debt-related costs | 14,309 | 13,944 | 13,300 | 9,133 | 2,662 | |||||||||||||||
Interest component of rent expense | 8,530 | 8,340 | 6,332 | 5,489 | 4,549 | |||||||||||||||
Total Fixed Charges | 44,589 | 43,302 | 40,218 | 42,151 | 34,330 | |||||||||||||||
Dividends on convertible preferred stock (pre-tax) | — | — | — | — | 211 | |||||||||||||||
Total Fixed Charges and Preference Security Dividends | $ | 44,589 | $ | 43,302 | $ | 40,218 | $ | 42,151 | $ | 34,541 | ||||||||||
Ratio of Earnings to Fixed Charges | 1.3 | * | 1.4 | 1.4 | 2.7 | |||||||||||||||
Ratio of Earnings to Fixed Charges and Preference Security Dividends | 1.3 | * | 1.4 | 1.4 | 2.7 | |||||||||||||||
* Earnings were deficient in covering fixed charges by $27.1 million for the year ended January 31, 2017.
Earnings consists of our consolidated net income before income taxes, plus fixed charges, reduced by the non-controlling interest in the pre-tax income of a consolidated subsidiary that did not incur fixed charges. Fixed charges consist of interest expense (including only interest expense on third party indebtedness and excluding interest expense accrued on uncertain tax positions), amortization of debt discounts and capitalized expenses related to indebtedness as well as a portion of rental expense deemed by us to be representative of the interest factor within rental payments under operating leases. Preference security dividends represent the estimated amount of pre-tax earnings necessary to pay dividends on our previously outstanding Series A Convertible Preferred Stock. Dividends on our Series A Convertible Preferred Stock were cumulative. Our Series A Convertible Preferred Stock was canceled on February 4, 2013, in connection with our merger with CTI. No dividends had been declared or paid on our Series A Convertible Preferred Stock.