EX-12.1 2 p70757exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1

AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands except ratio data)

                                                 
                                            Nine months ended  
    Year Ended December 31,     September 30,  
    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 )   $ 13,466  
 
                                                
Interest expense
    61,803       127,027       138,629       143,441       138,775       105,332  
 
                                                
Amortization of debt issuance costs
    3,466       7,013       22,321       8,251       7,428       4,333  
 
                                                
Interest portion of rent
    3,481       4,567       7,282       4,995       5,463       4,185  
 
                                                
Less (earnings) loss of affiliates
    2,622       —       —       —       —       —  
 
                                    
 
                                                
 
   $ 158,866     $ 311,761     $ (270,266 )   $ (407,622 )   $ 106,363     $ 127,316  
 
                                    
 
                                                
Fixed Charges
                                                
Interest expense
  $ 61,803     $ 127,027     $ 138,629     $ 143,441     $ 138,775     $ 105,332  
 
                                                
Amortization of debt issuance costs
    3,466       7,013       22,321       8,251       7,428       4,333  
 
                                                
Interest portion of rent
    3,481       4,567       7,282       4,995       5,463       4,185  
 
                                    
 
                                                
 
   $ 68,750     $ 138,607     $ 168,232     $ 156,687     $ 151,666     $ 113,850  
 
                                    
 
                                                
Ratio of earnings to fixed charges
     2.3x       2.2x       —x 1     —x 1     —x 1     1.1x  
 
                                    

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.