EX-12.1 4 adbeex121fy17.htm EXHIBIT 12.1
EXHIBIT 12.1
ADOBE SYSTEMS INCORPORATED
Consolidated Ratio of Earnings to Fixed Charges and
Consolidated Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios) | Year Ended
| December 1, 2017 |  | December 2, 2016 |  | November 27, 2015 |  | November 28, 2014 |  | November 29, 2013
Earnings: |  |  |  |  |  |  |  |  |
Income before provision for income taxes | $ | 2,137,641 |  |  | $ | 1,435,138 |  |  | $ | 873,781 |  |  | $ | 361,376 |  |  | $ | 356,141 |
Add: Fixed charges | 106,424 |  |  | 97,006 |  |  | 90,387 |  |  | 87,720 |  |  | 94,794 |
Total earnings | $ | 2,244,065 |  |  | $ | 1,532,144 |  |  | $ | 964,168 |  |  | $ | 449,096 |  |  | $ | 450,935 |
Total fixed charges(*) | 106,424 |  |  | 97,006 |  |  | 90,387 |  |  | 87,720 |  |  | 94,794 |
Ratio of earnings to fixed charges | 21.1 |  |  | 15.8 |  |  | 10.7 |  |  | 5.1 |  |  | 4.8 |

_________________________________________

(*) | Fixed charges consist of interest charges, the amortization of debt issuance costs and an estimate of interest as a component of rental expense.

Currently, we have no shares of preferred stock outstanding and we have not paid any dividends on preferred stock in the periods presented. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are not different from the ratios of earnings to fixed charges.