EX-12.1 6 f93836a1exv12w1.txt EXHIBIT 12.1 . . . EXHIBIT 12.1
PRO FORMA ---------------------- SIX MONTHS SIX MONTHS NINE MONTHS SIX MONTHS NINE MONTHS ENDED ENDED ENDED ENDED ENDED FISCAL YEAR ENDED ---------- ---------- ----------- ---------- ----------- ----------------------------------------- JUNE 30, DEC 29, SEPT 28, DEC 29, SEPT 28, 1998 1999 2000 2001 2002 2002 2003 2002(5) 2003(5) --------- --------- -------- --------- -------- ---------- ----------- -------- ----------- Income (loss) before income taxes, minority interest, equity in net loss of unconsolidated company and cumulative effect of change in accounting principle (3) $(337,474) $(307,667) $(79,566) $(301,886) $363,017 $ (40,651)$ 18,990 $(40,651) $18,990 Fixed charges (1)(4) 21,381 25,959 46,913 156,935 564 7,048 7,462 4,773 7,401 Total earnings (losses) and fixed charges (3) $(337,474) $(307,667) $(79,566) $(301,886) $363,581 $ (33,603)$ 26,452 $(40,651) $26,391 Fixed charges (1)(4) 21,381 25,959 46,913 156,935 564 7,048 7,462 4,773 7,401 Ratio of earnings to fixed charges (2) N/A N/A N/A N/A 645:1 N/A 2.8:1 N/A 3.6:1
(1) Fixed charges consist of interest expense incurred, amortization of loan fees and the portion of rental expense under operating expense deemed by the Company to be representative of the interest factor. (2) Earnings were inadequate to cover fixed charges for fiscal 1998, 1999, 2000, 2001, and the six months ended December 29, 2002, by approximately $337.5 million, $307.7 million, $79.6 million, $301.9 million, and $40.7 million. (3) Total earnings and fixed charges for the six months ended June 30, 2002 included a gain on the extinguishment of debt and other liabilities subject to compromise, and the revaluation of assets and liabilities of $396.4 million to their fair values in connection with the adoption of fresh-start reporting for the six months ended June 30, 2002. (4) In accordance with SOP 90-7, Komag, Incorporated did not record interest expense on its outstanding debt during the chapter 11 bankruptcy proceedings from August 24, 2001 through June 30, 2002. (5) The pro forma calculations give effect to the application of the assumed net proceeds of $ related to the issuance of our new % convertible subordinated notes to repay $ of our existing debt at an average interest rate of %. Earnings were inadequate to cover fixed charges for the pro forma calculation for the six months ended December 29, 2002 by approximately $40.7 million.