EX-12.1 2 p72894aexv12w1.htm EX-12.1 exv12w1
 

Exhibit 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                   
    Year Ended December 31,   Three Months
        Ended March 31,
    2001   2002   2003   2004   2005   2006
    (As restated)(1)   (As restated)(1)   (As restated)(1)   (As restated)(1)   (As restated)(1)   (As restated)(1)
                         
    (In thousands, except ratio data)
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 )   $ 38,166  
 
Interest expense
    138,629       143,441       138,775       145,897       163,125       42,563  
 
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       1,804  
 
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       2,004  
 
Less (earnings) loss of affiliates
                                   
                                     
    $ (292,311 )   $ (460,551 )   $ 99,123     $ 129,141     $ 32,055     $ 84,537  
                                     
Fixed Charges
                                               
 
Interest expense
  $ 138,629     $ 143,441     $ 138,775     $ 145,897     $ 163,125     $ 42,563  
 
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       1,804  
 
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       2,004  
                                     
    $ 168,232     $ 156,687     $ 151,666     $ 158,007     $ 177,288     $ 46,371  
                                     
Ratio of earnings to fixed charges
    —x (2)     —x (2)     —x (2)     —x (2)     —x (2)     1.82  
                                     
 
(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.