Exhibit 12.1
TTM TECHNOLOGIES, INC.
Computation of Ratio of Earnings to Fixed Charges
Year Ended | ||||||||||||||||||||
December 28, 2015 | December 29, 2014 | December 30, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 59,753 | $ | 23,830 | $ | 24,031 | $ | 25,784 | $ | 26,504 | ||||||||||
Interest capitalized | 888 | 551 | 1,125 | 1,774 | 1,828 | |||||||||||||||
Estimated interest within rental expense | 2,454 | 1,244 | 1,121 | 1,034 | 994 | |||||||||||||||
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Total Fixed Charges | 63,095 | 25,625 | 26,277 | 28,592 | 29,326 | |||||||||||||||
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Earnings: | ||||||||||||||||||||
Net (loss) income | (25,618 | ) | 14,693 | 23,893 | (181,100 | ) | 47,227 | |||||||||||||
Fixed charges per above | 63,095 | 25,625 | 26,277 | 28,592 | 29,326 | |||||||||||||||
Income tax provision | 34,594 | 7,598 | 15,879 | 12,728 | 26,005 | |||||||||||||||
Less: capitalized interest | (888 | ) | (551 | ) | (1,125 | ) | (1,774 | ) | (1,828 | ) | ||||||||||
Amortization of interest capitalized | 391 | 316 | 325 | 278 | 235 | |||||||||||||||
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Total earnings | 71,574 | 47,681 | 65,249 | (141,276 | ) | 100,965 | ||||||||||||||
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Ratio of fixed charges | 1.1x | 1.9x | 2.5x | n/a | (1) | 3.4x | ||||||||||||||
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(1) | Earnings were not sufficient to cover fixed charges for period indicated. Additional earnings of $169,868 for the year ended December 31, 2012 would have been required to achieve a ratio of 1: 1. |