EX-12.1 3 p72728exv12w1.htm EXHIBIT 12.1 exv12w1
 

Exhibit 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                   
    Year Ended December 31,    
        Six Months Ended
    2001   2002   2003   2004   2005   June 30, 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 )   $ 64,266  
 
Interest expense
    138,629       143,441       138,775       145,897       163,125       85,038  
 
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       3,664  
 
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       3,994  
 
Less (earnings) loss of affiliates
                                   
                                     
    $ (292,311 )   $ (460,551 )   $ 99,123     $ 129,141     $ 32,055     $ 156,962  
                                     
Fixed Charges
                                               
 
Interest expense
  $ 138,629     $ 143,441     $ 138,775     $ 145,897     $ 163,125     $ 85,038  
 
Amortization of debt issuance costs
    22,321       8,251       7,428       6,182       7,948       3,664  
 
Interest portion of rent
    7,282       4,995       5,463       5,928       6,215       3,994  
                                     
    $ 168,232     $ 156,687     $ 151,666     $ 158,007     $ 177,288     $ 92,696  
                                     
Ratio of earnings to fixed charges
    x(2)     x(2)     x(2)     x(2)     x(2)     1.69  
                                     
 
(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.