Exhibit 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months | Year Ended December 31, | |||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | 44,039 | $ | 100,219 | $ | 251,159 | $ | 126,523 | $ | (425,688 | ) | $ | 234,837 | |||||||||||
Equity in earnings of unconsolidated affiliate | (5,421 | ) | (7,085 | ) | (6,435 | ) | (2,373 | ) | — | — | ||||||||||||||
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Income (loss) before income taxes and equity in earnings of unconsolidated affiliate | 38,618 | 93,134 | 244,724 | 124,150 | (425,688 | ) | 234,837 | |||||||||||||||||
Interest expense | 68,470 | 82,869 | 96,340 | 110,747 | 120,513 | 134,819 | ||||||||||||||||||
Amortization of debt issuance costs | 2,734 | 3,737 | 4,505 | 4,649 | 4,466 | 5,326 | ||||||||||||||||||
Interest portion of rent (1) | 3,255 | 5,020 | 5,450 | 5,879 | 6,559 | 6,452 | ||||||||||||||||||
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$ | 113,077 | $ | 184,760 | $ | 351,019 | $ | 245,425 | $ | (294,150 | ) | $ | 381,434 | ||||||||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 68,470 | $ | 82,869 | $ | 96,340 | $ | 110,747 | $ | 120,513 | $ | 134,819 | ||||||||||||
Amortization of debt issuance costs | 2,734 | 3,737 | 4,505 | 4,649 | 4,466 | 5,326 | ||||||||||||||||||
Interest portion of rent (1) | 3,255 | 5,020 | 5,450 | 5,879 | 6,559 | 6,452 | ||||||||||||||||||
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$ | 74,459 | $ | 91,626 | $ | 106,295 | $ | 121,275 | $ | 131,538 | $ | 146,597 | |||||||||||||
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Ratio of earnings to fixed charges (2) | 1.5 | 2.0 | 3.3 | 2.0 | — | 2.6 | ||||||||||||||||||
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(1) | Represents one-third of total rent expense which we believe is a reasonable estimate of the interest component of rent expense. |
(2) | The ratio of earnings to fixed charges was less than 1:1 for 2008. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $425.7 million of earnings in 2008. |