Exhibit 12.1
Solectron Corporation
Statement of Computation of Ratios of Earnings to Fixed Charges
Nine Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||
May 31 | August 31 | |||||||||||||||||||||||||||
2006 | 2005 | 2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Net income (loss) | $ | 96.4 | $ | (8.1 | ) | $ | 3.4 | $ | (177.4 | ) | $ | (3,452.6 | ) | $ | (3,109.7 | ) | $ | (123.9 | ) | |||||||||
Discontinued operations (income) loss, net of tax | (16.7 | ) | (14.2 | ) | (13.9 | ) | (85.0 | ) | 443.7 | 40.4 | 33.4 | |||||||||||||||||
Income tax expense (benefit) | (0.8 | ) | 11.1 | 15.7 | (3.3 | ) | 525.5 | (450.0 | ) | (35.9 | ) | |||||||||||||||||
Income (Loss) from continuing operations before income tax expense (benefit) | $ | 78.9 | $ | (11.2 | ) | $ | 5.2 | $ | (265.7 | ) | $ | (2,483.4 | ) | $ | (3,519.3 | ) | $ | (126.4 | ) | |||||||||
Add back: fixed charges | 34.9 | 67.7 | 78.7 | 172.1 | 236.2 | 271.2 | 199.4 | |||||||||||||||||||||
Earnings before fixed charges | $ | 113.8 | $ | 56.5 | $ | 83.9 | $ | (93.6 | ) | $ | (2,247.2 | ) | $ | (3,248.1 | ) | $ | 73.0 | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest portion of rent expense | $ | 14.1 | $ | 17.4 | $ | 22.2 | $ | 26.8 | $ | 29.1 | $ | 33.6 | $ | 24.6 | ||||||||||||||
Interest expense | 20.8 | 50.3 | 56.5 | 145.3 | 207.1 | 237.6 | 174.8 | |||||||||||||||||||||
Total fixed charges | $ | 34.9 | $ | 67.7 | $ | 78.7 | $ | 172.1 | $ | 236.2 | $ | 271.2 | $ | 199.4 | ||||||||||||||
Ratio of earnings to fixed charges | 3.3x | 0.8x | 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. |