EX-12.1 2 p72913exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In thousands except ratio data)
                                         
    Year Ended December 31,  
    2001
(As restated)(1)
    2002
(As restated)(1)
    2003
(As restated)(1)
    2004
(As restated)(1)
    2005
(As restated)(1)
 
Earnings
                                       
Income (loss) before income taxes, equity investment earnings (losses), minority interests and discontinued operations
  $ (460,543 )   $ (617,238 )   $ (52,543 )   $ (28,866 )   $ (145,233 )
Interest expense
    138,629       143,441       138,775       145,897       163,125  
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948  
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215  
Less (earnings) loss of affiliates
                             
 
                             
 
  $ (292,311 )   $ (460,551 )   $ 99,123     $ 129,141     $ 32,055  
 
                             
 
                                       
Fixed Charges
                                       
Interest expense
  $ 138,629     $ 143,441     $ 138,775     $ 145,897     $ 163,125  
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948  
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215  
 
                             
 
  $ 168,232     $ 156,687     $ 151,666     $ 158,007     $ 177,288  
 
                             
 
                                       
Ratio of earnings to fixed charges
    — x (2)     —x (2)     —x (2)     — x (2)     — x (2)
 
                             
 
(1)   See discussion of restatement in Note 2 “Restatement of Consolidated Financial Statements, Special Committee and Company Finding” of the Notes to the Consolidated Financial Statements.
 
                                       
(2)   The ratio of earnings to fixed charges was less than 1:1 for 2005. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $145.2 million of earnings in 2005. The ratio of earnings to fixed charges was less than 1:1 for 2004. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $28.9 million of earnings in 2004. 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 $52.5 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 $617.2 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 $460.5 million of earnings in the year ended December 31, 2001.