Attached files
file | filename |
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EX-5.2 - EX-5.2 - DXC Technology Co | d481206dex52.htm |
EX-5.1 - EX-5.1 - DXC Technology Co | d481206dex51.htm |
EX-4.1 - EX-4.1 - DXC Technology Co | d481206dex41.htm |
EX-1.1 - EX-1.1 - DXC Technology Co | d481206dex11.htm |
8-K - 8-K - DXC Technology Co | d481206d8k.htm |
Exhibit 12.1
DXC TECHNOLOGY COMPANY
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
(unaudited)
Historical DXC Technology Company |
Historical Computer Sciences Corporation | |||||||||||||||||||||||
Nine months ended | Fiscal years ended | |||||||||||||||||||||||
(in millions, except ratios) |
December 31, 2017 |
March 31, 2017 |
April 1, 2016 |
April 3, 2015 |
March 28, 2014 |
March 29, 2013 |
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Earnings: |
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Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees |
$ | 1,010 | $ | (174 | ) | $ | 10 | $ | (671 | ) | $ | 694 | $ | (249 | ) | |||||||||
Fixed charges |
525 | 166 | 271 | 172 | 193 | 235 | ||||||||||||||||||
Less: Preference security dividend requirements of consolidated subsidiaries |
(1 | ) | (1 | ) | (2 | ) | (3 | ) | (2 | ) | | |||||||||||||
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Earnings as adjusted |
$ | 1,534 | $ | (9 | ) | $ | 279 | $ | (502 | ) | $ | 885 | $ | (14 | ) | |||||||||
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Fixed charges: |
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Interest expense(a) |
$ | 231 | $ | 117 | $ | 123 | $ | 126 | $ | 128 | $ | 165 | ||||||||||||
Loss on early extinguishment of debt(b) |
| | 97 | | | | ||||||||||||||||||
Portion of rental expense representative of the interest factor(c) |
294 | 49 | 51 | 46 | 65 | 70 | ||||||||||||||||||
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Fixed Charges |
$ | 525 | $ | 166 | $ | 271 | $ | 172 | $ | 193 | $ | 235 | ||||||||||||
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Combined fixed charges and preference dividends: |
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Interest expense(a) |
$ | 231 | $ | 117 | $ | 123 | $ | 126 | $ | 128 | $ | 165 | ||||||||||||
Loss on early extinguishment of debt(b) |
| | 97 | | | | ||||||||||||||||||
Portion of rental expense representative of the interest factor(c) |
294 | 49 | 51 | 46 | 65 | 70 | ||||||||||||||||||
Preference security dividend requirements of consolidated subsidiaries |
1 | 1 | 2 | 3 | 2 | | ||||||||||||||||||
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Combined fixed charges and preference dividends |
$ | 526 | $ | 167 | $ | 273 | $ | 175 | $ | 195 | $ | 235 | ||||||||||||
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Ratios: |
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Ratio of earnings to fixed charges |
2.9 | | (d) | 1.0 | | (f) | 4.6 | | (h) | |||||||||||||||
Ratio of earnings to combined fixed charges and preference dividends |
2.9 | | (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 Companys 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. |