EX-12.1 4 f73665orex12-1.txt EXHIBIT 12.1 1 EXHIBIT 12.1 SOLECTRON CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA)
Year Ended August 31, ----------------------------------------------------- 1996 1997 1998 1999 2000 -------- -------- -------- -------- -------- Earnings: Income before income taxes $213,200 $307,500 $375,500 $514,500 $739,500 Adjustment for minority interest -- -- -- -- -- Plus fixed charges 21,040 33,790 37,150 66,500 100,190 Plus amort. previously capitalized interest -- -- 200 800 1,200 Less capitalized interest -- -- 1,700 3,200 900 -------- -------- -------- -------- -------- 234,240 341,290 411,150 578,600 839,990 ======== ======== ======== ======== ======== Fixed charges: Interest portion of annual rent expense(1) $ 5,040 $ 6,890 $ 10,050 $ 25,000 $ 27,690 Interest expense 16,000 26,900 25,400 38,300 71,600 Capitalized interest -- -- 1,700 3,200 900 -------- -------- -------- -------- -------- $ 21,040 $33,790 $37,150 $ 66,500 $100,190 ======== ======== ======== ======== ======== Earnings to fixed charges ratio 11.13x 10.10x 11.07x 8.70x 8.38x
Nine Months Ended May 31 ----------------------- 2000 2001 -------- -------- Earnings: Income before income taxes $488,000 $182,300 Adjustment for minority interest -- (5,755) Plus fixed charges 62,270 161,230 Plus amort. previously capitalized interest 860 685 Less capitalized interest 900 -- -------- -------- $550,230 $338,460 ======== ======== Fixed charges: Interest portion of annual rent expense(1) $ 20,770 $ 33,230 Interest expense 40,600 128,000 Capitalized interest 900 -- -------- -------- $ 62,270 $161,230 ======== ======== Earnings to fixed charges ratio 8.84x 2.10x
----------- (1) includes total annual rent expense of certain facilities in and appropriate internal portion of the annual rent expense for all other facilities and equipment which was deemed to be representative of the interest factor in rent expense.