Exhibit 12.1
Consolidated Fixed Charge Computation for
Solectron Corporation
($Millions)
Three months ended November 30, | ||||||||
2004 | 2003 | |||||||
Losses: | ||||||||
Net income (loss) | $ | 55.9 | $ | (119.8 | ) | |||
Discontinued operations income (loss), net of tax | 9.0 | (67.6 | ) | |||||
Income tax expense | 4.7 | 2.5 | ||||||
Income (loss) from continuing operations before income tax expense | $ | 51.6 | $ | (49.7 | ) | |||
Add back: fixed charges | 22.9 | 51.2 | ||||||
Earnings before fixed charges | 74.5 | 1.5 | ||||||
Fixed Charges: | ||||||||
Interest portion of rental expense | $ | 6.6 | $ | 7.3 | ||||
Interest expense | 16.3 | 43.9 | ||||||
$ | 22.9 | $ | 51.2 | |||||
Ratio of earnings to fixed charges | 3.3 | — | ||||||
Deficiency of earnings to fixed charges | $ | — | $ | (49.7 | ) | |||
Consolidated Fixed Charge Computation for
Solectron Corporation
($Millions)
Year Ended August 31 | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
Losses: | ||||||||||||||||||||
Net (loss) income | $ | (168.9 | ) | $ | (3,462.0 | ) | $ | (3,110.2 | ) | $ | (123.5 | ) | $ | 497.2 | ||||||
Discontinued operations (income) loss, net of tax | (82.9 | ) | 442.2 | 39.4 | 33.4 | (44.0 | ) | |||||||||||||
Income tax (benefit) expense | (0.3 | ) | 532.1 | (449.0 | ) | (35.9 | ) | 223.5 | ||||||||||||
(Loss) income from continuing operations before income tax (benefit) expense | $ | (252.1 | ) | $ | (2,487.7 | ) | $ | (3,519.8 | ) | $ | (126.0 | ) | $ | 676.7 | ||||||
Add back: fixed charges | 171.0 | 236.2 | 272.4 | 199.4 | 99.3 | |||||||||||||||
Earnings before fixed charges | (81.1 | ) | (2,251.5 | ) | (3,247.4 | ) | 73.4 | 776.0 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest portion of rental expense | $ | 26.8 | $ | 29.1 | $ | 33.6 | 24.6 | 27.7 | ||||||||||||
Interest expense | 144.2 | 207.1 | 238.8 | 174.8 | 71.6 | |||||||||||||||
$ | 171.0 | $ | 236.2 | $ | 272.4 | $ | 199.4 | $ | 99.3 | |||||||||||
Ratio of earnings to fixed charges | — | — | — | 0.4 | 7.8 | |||||||||||||||
Deficiency of earnings to fixed charges | $ | (252.1 | ) | $ | (2,487.7 | ) | $ | (3,519.8 | ) | $ | (126.0 | ) | — | |||||||