EX-12 3 kl02010_ex12-1.txt EXHIBIT 12. 1 RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1
VISHAY INTERTECHNOLOGY, INC. RATIO OF EARNINGS TO FIXED CHARGES Nine months Year Year Year Year Year Ended Ended Ended Ended Ended Ended 9/30/03 12/31/02 12/31/01 12/31/00 12/31/99 12/31/98 Net Earnings Income before income taxes and minority interest 31,722 (100,045) 10,103 690,225 134,711 42,646 Fixed charges 37,624 38,371 26,027 33,792 61,290 57,384 Less: Equity in income of affiliates 0 0 0 (2,573) (2,195) (1,084) -------- -------- -------- -------- -------- -------- Earnings, as adjusted 69,346 (61,674) 36,130 721,444 193,806 98,946 ======== ======== ======== ======== ======== ======== Fixed Charges Interest expense 29,192 28,761 16,848 25,177 53,296 49,038 Portion of rent expense representative of interest 7,734 9,125 7,588 7,143 7,130 7,901 Amortization of deferred issuance costs 698 485 1,591 1,472 864 445 -------- -------- -------- -------- -------- -------- Total Fixed Charges 37,624 38,371 26,027 33,792 61,290 57,384 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 1.84 -- 1.39 21.35 3.16 1.72 ======== ======== ======== ======== ======== ========