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Sanmina-SCI Corporation
Statement of Computation of Ratio of Earnings to Fixed Charges
| Fiscal Year | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||
| (In thousands, except ratios) | |||||||||||||||||
Fixed Charges: | ||||||||||||||||||
Rent Expense | $ | 42,300 | $ | 49,151 | $ | 54,067 | $ | 49,800 | $ | 27,600 | ||||||||
Interest factor | 6.90 | 7.36 | 6.90 | 5.11 | 2.18 | |||||||||||||
Interest component of rental expense | 6,134 | 6,678 | 7,836 | 9,756 | 12,646 | |||||||||||||
Interest, debt expense & amortization of debt expense | 142,319 | 115,304 | 128,501 | 97,833 | 55,218 | |||||||||||||
Total fixed charges | 148,453 | 121,982 | 136,337 | 107,586 | 67,891 | |||||||||||||
Earnings for fixed charges calculation: | ||||||||||||||||||
Pre-tax income (loss) | (593,863 | ) | (15,581 | ) | (198,207 | ) | (2,814,892 | ) | 82,792 | |||||||||
Equity method investee's losses | — | 15,526 | 6,351 | 4,512 | — | |||||||||||||
(593,863 | ) | (55 | ) | (191,856 | ) | (2,810,380 | ) | 82,792 | ||||||||||
Fixed charges | 148,453 | 121,982 | 136,337 | 107,586 | 67,891 | |||||||||||||
Earnings for calculation purposes | $ | (445,411 | ) | $ | 121,927 | $ | (55,519 | ) | $ | (2,702,795 | ) | $ | 150,683 | |||||
Ratio of earnings to fixed charges (1) | — | 1.0 | x | — | — | 2.2 | x |
- (1)
- Earnings for fiscal 2005, fiscal 2003 and fiscal 2002 were insufficient to cover fixed charges by approximately $593.9 million for fiscal 2005, approximately $191.9 million for fiscal 2003 and 2.8 billion for fiscal 2002. The loss before income taxes for fiscal 2005 included a goodwill impairment loss of $600 million, the loss before income taxes for fiscal 2003 included an impairment of long-lived assets loss of $95.6 million and the loss before income taxes for fiscal 2002 included a goodwill impairment loss of $2.8 billion.
Sanmina-SCI Corporation Statement of Computation of Ratio of Earnings to Fixed Charges