Exhibit 12.1
Solectron Corporation
Statement of Computation of Ratios of Earnings to Fixed Charges
Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||
February 28 | August 31 | |||||||||||||||||||||||||||
2006 | 2005 | 2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Net income (loss) | $ | 54.4 | $ | 56.0 | $ | 3.4 | $ | (177.4 | ) | $ | (3,452.6 | ) | $ | (3,109.7 | ) | $ | (123.9 | ) | ||||||||||
Discontinued operations (income) loss, net of tax | (17.1 | ) | (11.6 | ) | (13.9 | ) | (85.0 | ) | 443.7 | 40.4 | 33.4 | |||||||||||||||||
Income tax expense (benefit) | 9.9 | 12.5 | 15.7 | (3.3 | ) | 525.5 | (450.0 | ) | (35.9 | ) | ||||||||||||||||||
Income (Loss) from continuing operations before income tax expense (benefit) | $ | 47.2 | $ | 56.9 | $ | 5.2 | $ | (265.7 | ) | $ | (2,483.4 | ) | $ | (3,519.3 | ) | $ | (126.4 | ) | ||||||||||
Add back: fixed charges | 23.0 | 45.6 | 78.7 | 172.1 | 236.2 | 271.2 | 199.4 | |||||||||||||||||||||
Earnings before fixed charges | $ | 70.2 | $ | 102.5 | $ | 83.9 | $ | (93.6 | ) | $ | (2,247.2 | ) | $ | (3,248.1 | ) | $ | 73.0 | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest portion of rent expense | $ | 9.4 | $ | 12.6 | $ | 22.2 | $ | 26.8 | $ | 29.1 | $ | 33.6 | $ | 24.6 | ||||||||||||||
Interest expense | 13.6 | 33.0 | 56.5 | 145.3 | 207.1 | 237.6 | 174.8 | |||||||||||||||||||||
Total fixed charges | $ | 23.0 | $ | 45.6 | $ | 78.7 | $ | 172.1 | $ | 236.2 | $ | 271.2 | $ | 199.4 | ||||||||||||||
Ratio of earnings to fixed charges | 3.1x | 2.2x | 1.1x | — | — | — | — | |||||||||||||||||||||
Deficiency of earnings to fixed charges (1) | $ | — | $ | — | $ | — | $ | (265.7 | ) | $ | (2,483.4 | ) | $ | (3,519.3 | ) | $ | (126.4 | ) | ||||||||||
(1) | Earnings before fixed charges were inadequate to cover fixed charges for fiscal years 2001, 2002, 2003, and 2004. |