EX-12.1 2 masi-20170701x10qex121.htm RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1

Masimo Corporation Ratio of Earnings to Fixed Charges (Dollars in thousands)
|  | Six Months Ended |  | Fiscal Year Ended
|  | July 1, 2017 |  | December 31, 2016 |  | January 2, 2016 |  | January 3, 2015 |  | December 28, 2013 |  | December 29, 2012 |
Ratio of earnings to fixed charges: |  |  |  |  |  |  |  |  |  |  |  |
Income before provision for income taxes | $ | 91,095 |  |  | $ | 418,341 |  |  | $ | 116,345 |  |  | $ | 102,041 |  |  | $ | 75,726 |  |  | $ | 83,821 |  |
Fixed charges | 3,031 |  |  | 5,140 |  |  | 5,524 |  |  | 3,381 |  |  | 2,705 |  |  | 2,514 |  |
Noncontrolling interests in pre-tax (income) loss | — |  |  | — |  |  | 1,757 |  |  | 2,350 |  |  | 607 |  |  | 744 |  |
Total earnings | $ | 94,126 |  |  | $ | 423,481 |  |  | $ | 123,626 |  |  | $ | 107,772 |  |  | $ | 79,038 |  |  | $ | 87,079 |  |
Fixed charges |  |  |  |  |  |  |  |  |  |  |  |
Interest expensed | $ | 344 |  |  | $ | 3,261 |  |  | $ | 3,494 |  |  | $ | 594 |  |  | $ | 28 |  |  | $ | 44 |  |
Estimated of interest within rental expense | 2,687 |  |  | 1,879 |  |  | 2,030 |  |  | 2,787 |  |  | 2,677 |  |  | 2,470 |  |
Total fixed charges | $ | 3,031 |  |  | $ | 5,140 |  |  | $ | 5,524 |  |  | $ | 3,381 |  |  | $ | 2,705 |  |  | $ | 2,514 |  |
Ratio of earnings to fixed charges | 31.05 |  |  | 82.39 |  |  | 22.38 |  |  | 31.88 |  |  | 29.22 |  |  | 34.64 |  |

In the periods presented, there were no shares of preferred stock outstanding and no dividends paid on preferred stock. Therefore, the ratios of earnings to fixed charges and preferred stock dividends are not different from the ratios of earnings to fixed charges.