EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES. Statement Regarding Computation of Ration of Earnings to Fixed Charges.

EXHIBIT 12.1

 

ChipPAC, Inc.

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in thousands of dollars)

 

     Years Ended December 31
    

Three Months
Ended

March 31, 2004

  
     1999
     2000(a)
    2001
     2002
     2003
    

Pre-tax income (loss) from continuing operations

    $ (5,370 )   $ 15,670    $ (91,158 )   $ (26,855 )     (26,781 )   $ (264 )
    
 
  
 
 
 

Fixed charges:

                                                

Interest expense

      21,241       39,432      37,214       31,986       30,887       7,646  

Rentals (33%)

      1,633       1,767      2,107       1,930       2,320       573  
    
 
  
 
 
 

Total fixed charges

    $ 22,874     $ 41,199    $ 39,321     $ 33,916     $ 33,207     $ 8,219  
    
 
  
 
 
 

Pre-tax income (loss) from continuing operations plus fixed charges

    $ 17,504     $ 56,869    $ (51,837 )   $ 7,061     $ 6,426     $ 7,955  
    
 
  
 
 
 

Ratio of earnings to fixed charges

      —         1.4      —         —         —         —    

Ratio coverage less than 1:1. The registrant must generate additional earnings of as follows to achieve a coverage ratio of 1:1

    $ 5,370     $ —      $ 91,158     $ 26,855     $ 26,781     $ 264  
(a)   Included in earnings for 2000 were nonrecurring expenses of $8.0 million before income taxes relating to the termination of management advisory agreements as disclosed in the Notes to our consolidated financial statements. If such sale had not occurred, the ratio of earnings to fixed charges would have been 1.6.