EX-12.1 2 p73104exv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1
 
AMKOR TECHNOLOGY, INC.
 
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 
                                                 
    Year Ended December 31,     Nine Months
 		 
    2001
 		    2002
 		    2003
 		    2004
 		    2005
 		    Ended
 		 
    (As restated)(1)     (As restated)(1)     (As restated)(1)     (As restated)(1)     (As restated)(1)     September 30, 2006  
 
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 )   $ 120,192  
Interest expense
    138,629       143,441       138,775       145,897       163,125       122,668  
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       5,457  
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       5,157  
Less (earnings) loss of affiliates
    —       —       —       —       —       —  
                                                 
    $ (292,311 )   $ (460,551 )   $ 99,123     $ 129,141     $ 32,055     $ 253,474  
                                                 
Fixed Charges
                                               
Interest expense
  $ 138,629     $ 143,441     $ 138,775     $ 145,897     $ 163,125     $ 122,668  
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       5,457  
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       5,157  
                                                 
    $ 168,232     $ 156,687     $ 151,666     $ 158,007     $ 177,288     $ 133,282  
                                                 
Ratio of earnings to fixed charges
    (x )(2)     (x )(2)     (x )(2)     (x )(2)     (x )(2)     1.90  
                                                 
 
 
(1) See discussion of restatement in Note 2 “Restatement of Consolidated Financial Statements, Special Committee and Company Findings” of the Notes to the Condensed 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 the year ended December 31, 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 for the year ended December 31, 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.