EX-12.1 5 w84305exv12w1.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12.1 AMKOR TECHNOLOGY, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, ----------------------------------------------------------------- 1998 1999 2000 2001 2002 --------- --------- --------- --------- --------- Earnings Income (loss) before income taxes and equity in income (loss) of investees and minority interest .............. $ 100,735 $ 105,288 $ 197,429 $(429,950) (550,847) Interest expense ..................... 25,860 61,803 127,027 152,067 143,441 Amortization of debt issuance costs .. 1,217 3,466 7,013 22,321 8,251 Interest portion of rent ............. 2,584 3,481 4,567 7,282 4,995 Less loss of affiliates .............. -- 2,622 -- -- -- --------- --------- --------- --------- --------- $ 130,396 $ 176,660 $ 336,036 $(248,280) $(394,160) ========= ========= ========= ========= ========= Fixed Charges Interest expense ..................... 25,860 61,803 127,027 152,067 143,441 Amortization of debt issuance costs .. 1,217 3,466 7,013 22,321 8,251 Interest portion of rent ............. 2,584 3,481 4,567 7,282 4,995 --------- --------- --------- --------- --------- $ 29,661 $ 68,750 $ 138,607 $ 181,670 $ 156,687 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges ...... 4.4x 2.6x 2.4x -- x(1) -- x(1) ========= ========= ========= ========= =========
(1) The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2002. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $550.8 million of earnings during the year ended December 31, 2002. We recorded charges totaling $292.0 million for the year ended December 31, 2002 for goodwill and long-lived asset impairments, lease terminations and other exit costs. The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2001. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $430.0 million of earnings in the year ended December 31, 2001.