Exhibit 12.1
MACOM Technology Solutions Holdings, Inc.
Ratio of Earnings to Fixed Charges
(in thousands, except ratio data)
Fiscal Year Ended | Six months ended March 30, 2018 | |||||||||||||||||||||||
September 27, 2013 | October 3, 2014 | October 2, 2015 | September 30, 2016 | September 29, 2017 | ||||||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income tax | $ | 2,946 | $ | (40,900 | ) | $ | (15,400 | ) | $ | (21,571 | ) | $ | (49,505 | ) | $ | (34,107 | ) | |||||||
Fixed Charges | 2,316 | 14,560 | 20,543 | 20,750 | 32,474 | 16,807 | ||||||||||||||||||
Net income—noncontrolling interests | — | — | — | — | — | — | ||||||||||||||||||
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Total earnings available for fixed charges | $ | 5,262 | $ | (26,340 | ) | $ | 5,143 | $ | (821 | ) | $ | (17,031 | ) | $ | (17,300 | ) | ||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 817 | $ | 12,362 | $ | 18,376 | $ | 18,427 | $ | 28,855 | 15,209 | |||||||||||||
Portion of rental expense which represents interest factor(1) | 1,499 | 2,198 | 2,167 | 2,323 | 3,619 | 1,598 | ||||||||||||||||||
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Total Fixed Charges | $ | 2,316 | $ | 14,560 | $ | 20,543 | $ | 20,750 | $ | 32,474 | $ | 16,807 | ||||||||||||
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Ratio of earnings to fixed charges | 2.3x | (1.8)x | (2) | 0.3x | (2) | (0.0)x | (2) | (0.5)x | (2) | (1.0)x | (2) | |||||||||||||
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(1) | The portion of total rent expense that represents the interest factor is 33.3%. |
(2) | The ratio coverage for fiscal year 2014, 2015, 2016, 2017 and the six months ended March 30, 2018 was less than 1:1. We would have needed to generate additional earnings of approximately $40.9 million, $15.4 million, $21.6 million, $49.5 million and $34.1 million in fiscal year 2014, 2015, 2016, 2017 and the six months ended March 30, 2018, respectively, to achieve a coverage ratio of 1:1 during these periods. |