Attached files
| file | filename |
|---|---|
| EX-5.2 - EX-5.2 - DXC Technology Co | d628564dex52.htm |
| EX-5.1 - EX-5.1 - DXC Technology Co | d628564dex51.htm |
| EX-4.1 - EX-4.1 - DXC Technology Co | d628564dex41.htm |
| EX-1.1 - EX-1.1 - DXC Technology Co | d628564dex11.htm |
| 8-K - 8-K - DXC Technology Co | d628564d8k.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 DXC Technology Company |
Historical Computer Sciences Corporation | ||||||||||||||||||||||
| Three months ended | Fiscal year ended | Fiscal years ended | ||||||||||||||||||||||
| (in millions, except ratios) |
June 30, 2018 |
March 31, 2018 |
March 31, 2017 |
April 1, 2016 |
April 3, 2015 |
March 28, 2014 |
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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 |
$ | 360 | $ | 1,304 | $ | (174 | ) | $ | 10 | $ | (671 | ) | $ | 694 | ||||||||||
| Fixed charges |
156 | 583 | 166 | 271 | 172 | 193 | ||||||||||||||||||
| Less: Preference security dividend requirements of consolidated subsidiaries |
— | (2 | ) | (1 | ) | (2 | ) | (3 | ) | (2 | ) | |||||||||||||
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| Earnings as adjusted |
$ | 516 | $ | 1,885 | $ | (9 | ) | $ | 279 | $ | (502 | ) | $ | 885 | ||||||||||
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| Fixed charges: |
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| Interest expense(a) |
$ | 85 | $ | 320 | $ | 117 | $ | 123 | $ | 126 | $ | 128 | ||||||||||||
| Loss on early extinguishment of debt(b) |
— | — | — | 97 | — | — | ||||||||||||||||||
| Portion of rental expense representative of the interest factor(c) |
71 | 263 | 49 | 51 | 46 | 65 | ||||||||||||||||||
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| Fixed Charges |
$ | 156 | $ | 583 | $ | 166 | $ | 271 | $ | 172 | $ | 193 | ||||||||||||
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| Combined fixed charges and preference dividends: |
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| Interest expense(a) |
$ | 85 | $ | 320 | $ | 117 | $ | 123 | $ | 126 | $ | 128 | ||||||||||||
| Loss on early extinguishment of debt(b) |
— | — | — | 97 | — | — | ||||||||||||||||||
| Portion of rental expense representative of the interest factor(c) |
71 | 263 | 49 | 51 | 46 | 65 | ||||||||||||||||||
| Preference security dividend requirements of consolidated subsidiaries |
— | 2 | 1 | 2 | 3 | 2 | ||||||||||||||||||
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| Combined fixed charges and preference dividends |
$ | 156 | $ | 585 | $ | 167 | $ | 273 | $ | 175 | $ | 195 | ||||||||||||
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| Ratios: |
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| Ratio of earnings to fixed charges |
3.3 | 3.2 | — | (d) | 1.0 | — | (f) | 4.6 | ||||||||||||||||
| Ratio of earnings to combined fixed charges and preference dividends |
3.3 | 3.2 | — | (e) | 1.0 | — | (g) | 4.5 | ||||||||||||||||
| (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. |