Magnachip Semiconductor (MX) 10-K 2013 FY Annual report

Exhibit 12.1

STATEMENT REGARDING

COMPUTATION OF RATIO OF

EARNINGS TO FIXED CHARGES

	Successor													Predecessor
	Years Ended December 31,										Two-Month Period Ended December 31, 2009			Ten-Month Period Ended October 25, 2009
	2013			2012		2011			2010
				As Restated		As Restated			As Restated		As Restated			As Restated
	(in millions except ratios)
Fixed charges:
Interest expensed amortization of debt issuance costs and discount on all indebtedness	$	21.1		$	23.2	$	25.8		$	23.3	$	1.3		$	31.2
Rent expense		2.9			2.8		2.8			4.1		0.8			3.9
Preferred stock dividend requirements of consolidated subsidiaries		—			—		—			—		—			6.3
Total fixed charges		24.0			26.0		28.6			27.4		2.1			41.4
Earnings:
Income (loss) from continuing operations before income taxes		(60.2	)		122.9		(3.2	)		83.1		(0.7	)		841.5
Add:
Fixed charges		24.0			26.0		28.6			27.4		2.1			41.4
Amortization of capitalized interest		—			—		—			—		—			0.0
Less:
Preferred unit dividend requirements of consolidated subsidiaries		—			—		—			—		—			(6.3	)
Total earnings plus fixed charges	$	(36.2	)	$	148.9	$	25.4		$	110.5	$	1.4		$	876.6
													��
Ratio of earnings to fixed charges		—			5.7x		—			4.0x		—			21.2x

The term “fixed charge” means the sum of the following: interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebtedness; and an estimate of interest within rental expense (equal to one-third of rental expense). Management believes this is a reasonable approximation of the interest factor.

Where a dash appears, our earnings were negative and were insufficient to cover fixed charges during the period. Our deficiencies to cover fixed charges in each period presented were as follows:

	Successor
	Year Ended December 31, 2013		Year Ended December 31, 2011		Two-Month Period Ended December 31, 2009
	(In millions)
Deficiencies	$	60.2	$	3.2	$	0.7