EX-12.1 4 w96178exv12w1.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, 1999 2000 2001 2002 2003 2004 --------- --------- ----------- ----------- ---------- ------------------ Earnings Income (loss) before income taxes, equity in income (loss) of investees, minority interest and discontinued operations........ $ 87,494 $173,154 $(438,498) $(564,309) $(45,303) $ 12,703 Interest expense............................... 61,803 127,027 138,629 143,441 138,775 32,665 Amortization of debt issuance costs............ 3,466 7,013 22,321 8,251 7,428 1,357 Interest portion of rent....................... 3,481 4,567 7,282 4,995 5,463 1,400 Less (earnings) loss of affiliates............. 2,622 -- -- -- -- -- -------- -------- --------- --------- -------- ------------------ $158,866 $311,761 $(270,266) $(407,622) $106,363 $ 48,125 ======== ======== ========= ========== ======== ================== Fixed Charges Interest expense............................... $ 61,803 $127,027 $ 138,629 $ 143,441 $138,775 $ 32,665 Amortization of debt issuance costs............ 3,466 7,013 22,321 8,251 7,428 1,357 Interest portion of rent....................... 3,481 4,567 7,282 4,995 5,463 1,400 -------- -------- --------- --------- -------- ------------------ $ 68,750 $138,607 $ 168,232 $ 156,687 $151,666 $ 35,422 ======== ======== ========= ========= ======== ================== Ratio of earnings to fixed charges 2.3x 2.2x -- x(1) -- x(1) -- x(1) 1.4x ======== ======== ========= ========= ======== ==================
(1). The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2003. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $45.3 million of earnings in the year ended December 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. 29