Exhibit12.1



MEDTRONIC,INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



The ratio of earnings to fixed charges for the three months ended July 25, 2008 and the fiscal years ended April 25, 2008, April 27, 2007, April 28, 2006, April 29, 2005, and April 30, 2004 was computed based on Medtronics historical consolidated financial information included in Medtronics most recent Annual Report incorporated by reference on

Form 10-K.



Three months endedJuly 25,2008
        
        Year endedApril25,2008
        
        Year endedApril27,2007
        
        Year endedApril28,2006
        
        Year endedApril29,2005
        
        Year endedApril30,2004Earnings:Net earnings
        
        $
        747
        
        $
        2,231
        
        $
        2,802
        
        $
        2,547
        
        $
        1,804
        
        $
        1,959Income taxes
        
        
        206
        
        
        654
        
        
        713
        
        
        614
        
        
        740
        
        
        838Minority interest (loss)/income
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        (1
        )
        
        3Capitalized interest(1)
        
        
        (1
        )
        
        (10
        )
        
        (3
        )
        
        (3
        )
        
        (1
        )
        
        $
        952
        
        $
        2,875
        
        $
        3,512
        
        $
        3,158
        
        $
        2,542
        
        $
        2,800Fixed Charges:Interest expense(2)
        
        $
        61
        
        $
        255
        
        $
        229
        
        $
        116
        
        $
        55
        
        $
        56Capitalized interest(1)
        
        
        1
        
        
        10
        
        
        3
        
        
        3
        
        
        1
        
        
        Amortization of debt issuance costs(3)
        
        
        3
        
        
        12
        
        
        14
        
        
        4
        
        
        1
        
        
        Rent interest factor(4)
        
        
        17
        
        
        41
        
        
        34
        
        
        26
        
        
        24
        
        
        21$
        82
        
        $
        318
        
        $
        280
        
        $
        149
        
        $
        81
        
        $
        77Earnings before income taxes and fixed charges
        
        $
        1,034
        
        $
        3,193
        
        $
        3,792
        
        $
        3,307
        
        $
        2,623
        
        $
        2,877Ratio of earnings to fixed charges
        
        
        13
        
        
        10
        
        
        14
        
        
        22
        
        
        32
        
        
        37






(1)
        Capitalized interest relates to construction projects in process.(2)
        Interest expense consists of interest on indebtedness.(3)
        Represents the amortization of debt issuance costs incurred in connection with the Companys registered debt securities. See Note 7 to the condensed consolidated financial statements for further information regarding the debt securities.(4)
        Approximately one-third of rental expense is deemed representative of the interest factor.








---