Exhibit 12.1
ViaSat, Inc.
Computation of Ratio of Earnings to Fixed Charges
Fiscal year ended | ||||||||||||||||||||
(in thousands, except for ratios) | March 28, 2008 | April 3, 2009 | April 2, 2010 | April 1, 2011 | March 30, 2012 | |||||||||||||||
Computation of earnings: | ||||||||||||||||||||
Income (loss) attributable to ViaSat, Inc. before income tax expense (benefit) | $ | 47,034 | $ | 45,125 | $ | 36,574 | $ | 36,113 | $ | (6,155 | ) | |||||||||
Fixed charges, as calculated below | 1,373 | 1,509 | 17,314 | 32,822 | 35,719 | |||||||||||||||
Amortization of capitalized interest | — | — | — | 55 | 1,768 | |||||||||||||||
Capitalized interest | — | — | (8,800 | ) | (28,300 | ) | (25,900 | ) | ||||||||||||
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Total earnings | $ | 48,407 | $ | 46,634 | $ | 45,088 | $ | 40,690 | $ 5,432 | |||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense including amortization of debt discount and debt issuance costs | 557 | 509 | 7,354 | 3,154 | 8,307 | |||||||||||||||
Capitalized interest | — | — | 8,800 | 28,300 | 25,900 | |||||||||||||||
Estimated interest within rental expense | 816 | 1,000 | 1,160 | 1,368 | 1,512 | |||||||||||||||
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Total fixed charges | $ | 1,373 | $ | 1,509 | $ | 17,314 | $ | 32,822 | $ | 35,719 | ||||||||||
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Ratio of earnings to fixed charges(1) | 35.26 | 30.90 | 2.60 | 1.24 | — |
(1) | Due to the loss attributable to ViaSat, Inc. before income tax benefit for the fiscal year ended March 30, 2012, the ratio of earnings to fixed charges was less than 1.00. Additional earnings of $30.3 million would have been required to achieve a ratio of 1:1. |