Exhibit 12.1
Advanced Semiconductor Engineering, Inc.
Computation of Earnings to Fixed Charges Ratio
(NT$ in millions)
(Unaudited)
Ratio of Earnings to Fixed Charges in accordance with ROC GAAP | Year Ended December 31, | Six Months Ended June 30, | ||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||
Earnings: | ||||||||||||||||||
Income (loss) from continuing operations before income taxes and income or loss from equity investments | 1,444.6 | 8,098.9 | 7,022.4 | (1,246.3 | ) | (585.5 | ) | (336.2 | ) | |||||||||
Add: Fixed charges | 1,130.2 | 1,596.5 | 2,256.1 | 2,343.3 | 2,117.2 | 889.4 | ||||||||||||
Amortization of capitalized interest | 96.5 | 128.8 | 168.0 | 182.4 | 186.6 | 73.8 | ||||||||||||
Distributed income of equity investees | 0 | 0 | 0 | 33.2 | 0 | 0 | ||||||||||||
Less: Capitalized interest | (144.4 | ) | (126.7 | ) | (163.9 | ) | (100.4 | ) | (146.0 | ) | (86.4 | ) | ||||||
Total earnings (loss) to cover fixed charges | 2,526.9 | 9,697.5 | 9,282.6 | 1,212.2 | 1,572.3 | 540.6 | ||||||||||||
Fixed charges: | ||||||||||||||||||
Interest expenses | 985.8 | 1,469.8 | 2,092.2 | 2,242.9 | 1,971.2 | 803.0 | ||||||||||||
Capitalized interest | 144.4 | 126.7 | 163.9 | 100.4 | 146.0 | 86.4 | ||||||||||||
Total fixed charges | 1,130.2 | 1,596.5 | 2,256.1 | 2,343.3 | 2,117.2 | 889.4 | ||||||||||||
Ratio of earnings to fixed charges | 2.24 | 6.07 | 4.11 | 0.52 | 0.74 | 0.61 |
Ratio of Earnings to Fixed Charges in accordance with US GAAP | Year Ended December 31, | Six Months Ended June 30, | ||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||
Earnings: | ||||||||||||||||||
Income (loss) from continuing operations before income taxes and income or loss from equity investments | 204.5 | 5,097.8 | 5,251.6 | (2,667.4 | ) | (3,975.3 | ) | (63.4 | ) | |||||||||
Add: Fixed charges | 1,130.2 | 1,596.5 | 2,256.1 | 2,343.3 | 2,117.2 | 889.4 | ||||||||||||
Amortization of capitalized interest | 96.5 | 128.8 | 168.0 | 182.4 | 186.6 | 73.8 | ||||||||||||
Distributed income of equity investees | 0 | 0 | 0 | 33.2 | 0 | 0 | ||||||||||||
Less: Capitalized interest | (144.4 | ) | (126.7 | ) | (163.9 | ) | (100.5 | ) | (146.0 | ) | (86.4 | ) | ||||||
Total earnings (loss) to cover fixed charges | 1,286.8 | 6,696.4 | 7,511.8 | (209.0 | ) | (1,817.5 | ) | 813.4 | ||||||||||
Fixed charges: | ||||||||||||||||||
Interest expenses | 985.8 | 1,469.8 | 2,092.2 | 2,242.9 | 1,971.2 | 803.0 | ||||||||||||
Capitalized interest | 144.4 | 126.7 | 163.9 | 100.4 | 146.0 | 86.4 | ||||||||||||
Total fixed charges | 1,130.2 | 1,596.5 | 2,256.1 | 2,343.3 | 2,117.2 | 889.4 | ||||||||||||
Ratio of earnings to fixed charges | 1.14 | 4.19 | 3.33 | (0.09 | ) | (0.86 | ) | 0.91 |
Pro Forma Ratio of Earnings to Fixed Charges in accordance with ROC GAAP | Year Ended December 31, | Six Months Ended June 30, | ||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||
Earnings: | ||||||||||||||
Income (loss) from continuing operations before income taxes and income or loss from equity investments | (563.2 | ) | (365.2 | ) | ||||||||||
Add: Fixed charges | 2,094.9 | 916.4 | ||||||||||||
Amortization of capitalized interest | 186.6 | 73.8 | ||||||||||||
Distributed income of equity investees | 0 | 0 | ||||||||||||
Less: Capitalized interest | (146.0 | ) | (86.4 | ) | ||||||||||
Total earnings (loss) to cover fixed charges | 1,572.3 | 538.6 | ||||||||||||
Fixed charges: | ||||||||||||||
Interest expenses | 1,948.9 | 830.0 | ||||||||||||
Capitalized interest | 146.0 | 86.4 | ||||||||||||
Total fixed charges | 2,094.9 | 916.4 | ||||||||||||
Ratio of earnings to fixed charges | 0.75 | 0.59 |
Pro Forma Ratio of Earnings to Fixed Charges in accordance with US GAAP | Year Ended December 31, | Six Months Ended June 30, | ||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||
Earnings: | ||||||||||||||
Income (loss) from continuing operations before income taxes and income or loss from equity investments | (3,953.0 | ) | (92.5 | ) | ||||||||||
Add: Fixed charges | 2,094.9 | 916.4 | ||||||||||||
Amortization of capitalized interest | 186.6 | 73.8 | ||||||||||||
Distributed income of equity investees | 0 | 0 | ||||||||||||
Less: Capitalized interest | (146.0 | ) | (86.3 | ) | ||||||||||
Total earnings (loss) to cover fixed charges | (1,817.5 | ) | 811.4 | |||||||||||
Fixed charges: | ||||||||||||||
Interest expenses | 1,948.9 | 830.0 | ||||||||||||
Capitalized interest | 146.0 | 86.4 | ||||||||||||
Total fixed charges | 2,094.9 | 916.4 | ||||||||||||
Ratio of earnings to fixed charges | (0.87 | ) | 0.89 |