EX-12.1 3 w86314exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 AMKOR TECHNOLOGY, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, THREE MONTHS ENDED --------------------------------------------------------------------- MARCH 31, 1998 1999 2000 2001 2002 2003 ----------- ----------- ----------- ----------- ----------- ----------- Earnings Income (loss) before income taxes, equity in income (loss) of investees, minority interest and discontinued operations............. $ 92,461 $ 87,494 $ 173,154 $ (438,498) $ (564,304) $ (40,728) Interest expense...................... 25,860 61,803 127,027 152,067 143,441 35,554 Amortization of debt issuance costs... 1,217 3,466 7,013 22,321 8,251 2,080 Interest portion of rent.............. 2,584 3,481 4,567 7,282 4,995 1,396 Less (earnings) loss of affiliates.... -- 2,622 -- -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- $ 122,122 $ 158,866 $ 311,761 $ (256,828) $ (407,617) $ (1,698) =========== =========== =========== =========== =========== =========== Fixed Charges Interest expense...................... $ 25,860 $ 61,803 $ 127,027 $ 152,067 $ 143,441 $ 35,554 Amortization of debt issuance costs... 1,217 3,466 7,013 22,321 8,251 2,080 Interest portion of rent.............. 2,584 3,481 4,567 7,282 4,995 1,396 ----------- ----------- ----------- ----------- ----------- ----------- $ 29,661 $ 68,750 $ 138,607 $ 181,670 $ 156,687 $ 39,030 =========== =========== =========== =========== =========== =========== Ratio of earnings to fixed charges 4.1x 2.3x 2.2x --x(1) --x(1) --x(1) =========== =========== =========== =========== =========== ===========
(1) The ratio of earnings to fixed charges was less than 1:1 for the three months ended March 31, 2003. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $40.7 million of earnings in the three months ended March 31, 2003. 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 $564.3 million of earnings in the year ended December 31, 2002. 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 $438.5 million of earnings in the year ended December 31, 2001. 35