Magnachip Semiconductor (MX) 10-K 2016 FY Annual report

Exhibit 12.1

STATEMENT REGARDING

COMPUTATION OF RATIO OF

EARNINGS TO FIXED CHARGES

	Years Ended December 31,
	2016			2015			2014			2013			2012
	(in millions except ratios)
Fixed charges:
Interest expensed, amortization of debt issuance costs and discount on all indebtedness	$	16.2		$	16.3		$	16.8		$	21.1		$	23.2
Rent expense		3.0			2.7			3.1			2.9			2.8
Total fixed charges		19.2			19.0			19.9			24.0			26.0
Earnings:
Income (loss) from continuing operations before income taxes		(25.9	)		(100.0	)		(115.7	)		(60.2	)		122.9
Add:
Fixed charges		19.2			19.0			19.9			24.0			26.0
Total earnings plus fixed charges	$	(6.7	)	$	(81.0	)	$	(95.8	)	$	(36.2	)	$	148.9
Ratio of earnings to fixed charges		—			—			—			—			5.7x

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 toone-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:

	Year Ended December 31, 2016		Year Ended December 31, 2015		Year Ended December 31, 2014		Year Ended December 31, 2013
	(In millions)
Deficiencies	$	25.9	$	100.0	$	115.7	$	60.2