Exhibit 12.1

KLA-Tencor Corporation

Computation of Ratio of Earnings to Fixed Charges

 

	Fiscal year ended June 30,
(In thousands, except ratios)	2014				2013				2012				2011				2010
Earnings (losses):
Income before income taxes	$	734,461			$	690,621			$	974,094			$	1,110,066			$	291,181
Add back fixed charges:
Interest expense	53,812				54,176				54,197				54,328				54,517
Amortization of bond issuance costs	735				735				735				735				735
Interest portion of rental expense	2,915				3,081				3,008				2,834				3,687
Total adjusted earnings	$	791,923			$	748,613			$	1,032,034			$	1,167,963			$	350,120
Fixed charges:
Interest expense	$	53,812			$	54,176			$	54,197			$	54,328			$	54,517
Amortization of bond issuance costs	735				735				735				735				735
Interest portion of rental expense	2,915				3,081				3,008				2,834				3,687
Total fixed charges	$	57,462			$	57,992			$	57,940			$	57,897			$	58,939
Ratio of earnings to fixed charges	13.8				12.9				17.8				20.2				5.9

For purposes of calculating the ratio of earnings to fixed charges, earnings is the amount resulting from adding earnings before income taxes, plus fixed charges. Fixed charges for these purposes include interest expense, amortization of bond issuance costs, and one-third of rental expense, which KLA-Tencor considers to be a reasonable approximation of the interest factor included in rental expense.