EX-12.1 10 u92604exv12w1.txt EX-12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES OF STATS CHIPPAC LTD. . . . EXHIBIT 12.1 STATS CHIPPAC LTD. RATIO OF EARNINGS TO FIXED CHARGES
PROFORMA YEAR ENDED SIX MONTHS ENDED DECEMBER 31, FISCAL YEAR ENDED DECEMBER 31, JUNE 30, ------------- ------------------------------------------------------ ------------------ 2004 2000 2001 2002 2003 2004 2004 2005 ------------- ------- --------- -------- ------- --------- ------- -------- (IN THOUSANDS, EXCEPT RATIO) Income (loss) before income taxes ....... $ (470,916) $57,224 $(143,142) $(95,968) $ 528 $(456,001) $10,100 $(38,549) Add Interest expense ...... 44,170 2,424 1,275 10,414 13,994 28,816 9,282 20,118 Portion of operating lease rental expense deemed by us to be representative of interest factor .... 17,783 6,185 8,353 7,146 6,202 14,627 5,993 6,884 ------------ ------- --------- -------- ------- --------- ------- -------- Earnings as adjusted .. $ (408,963) $65,833 $(133,514) $(78,408) $20,724 $(412,558) $25,375 $(11,547) Fixed charges Interest expense ...... 44,170 2,424 1,275 10,414 13,994 28,816 9,282 20,118 Portion of operating lease rental expense deemed by us to be representative of interest factor .... 17,783 6,185 8,353 7,146 6,202 14,627 5,993 6,884 ------------ ------- --------- -------- ------- --------- ------- -------- $ 61,953 $ 8,609 $ 9,628 $ 17,560 $20,196 $ 43,443 $15,275 $ 27,002 Ratio of earnings to fixed charges ...... -- 7.6x -- -- 1.0x -- 1.7x -- Deficiency of earnings to cover fixed charges ............ $ (470,916) -- $(143,142) $(95,968) -- $(456,001) -- $(38,549)