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EXHIBIT 12.1
ANALOG DEVICES, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
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FISCAL YEAR ENDED NINE MONTHS ENDED
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OCTOBER 28, NOVEMBER 2, NOVEMBER 1, OCTOBER 31, OCTOBER 30, JULY 31, JULY 29,
1995 1996 1997 1998 1999 1999 2000
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<S> <C> <C> <C> <C> <C> <C> <C>
Determination of earnings:
Income from continuing operations
before provision for taxes on income(a) $159,435 $230,837 $235,665 $161,366 $259,114 $161,483 $580,366
Fixed charges 5,572 12,585 13,894 12,687 9,541 9,285 4,143
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Total earnings as defined 165,007 243,422 249,559 174,053 268,655 170,768 584,509
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Fixed Charges:
Interest expense (b) 4,201 11,289 12,507 11,229 8,071 8,182 2,863
Interest portion of rent expense 1,371 1,296 1,387 1,458 1,470 1,103 1,280
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Fixed charges 5,572 12,585 13,894 12,687 9,541 9,285 4,143
Capitalized interest -- -- 2,733 3,034 -- -- --
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Total fixed charges $ 5,572 $ 12,585 $ 16,627 $ 15,721 $ 9,541 $ 9,285 $ 4,143
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Ratio of earnings to fixed charges 29.6 19.3 15.0 11.1 28.2 18.4 141.1
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(a) Net of dividends and income/loss on WaferTech
(b) Interest expense includes amortization of capitalized debt issue costs.
