EXHIBIT 12.1
CONSOLIDATED FIXED CHARGE COMPUTATION FOR SOLECTRON CORPORATION (in millions):
Year Ended August 31 | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Earnings (losses): | ||||||||||||||||||||
Net income (loss) | $ | 133.2 | $ | 3.4 | $ | (177.4 | ) | $ | (3,452.6 | ) | $ | (3,109.7 | ) | |||||||
Cumulative effect of change in accounting principle, net | 0.8 | — | — | — | — | |||||||||||||||
Discontinued operations (income) loss, net of tax | (15.6 | ) | (13.9 | ) | (85.0 | ) | 443.7 | 40.4 | ||||||||||||
Income tax (benefit) expense | (1.3 | ) | 15.7 | (3.3 | ) | 525.5 | (450.0 | ) | ||||||||||||
Income (loss) from continuing operations before income tax (benefit) expense | $ | 117.1 | $ | 5.2 | $ | (265.7 | ) | $ | (2,483.4 | ) | $ | (3,519.3 | ) | |||||||
Add back: fixed charges | 46.9 | 78.7 | 172.1 | 236.2 | 271.2 | |||||||||||||||
Earnings (losses) before fixed charges | 164.0 | 83.9 | (93.6 | ) | (2,247.2 | ) | (3,248.1 | ) | ||||||||||||
Earnings (losses) from continuing operations before fixed charges | ||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest portion of rent expenses | $ | 18.4 | $ | 22.2 | $ | 26.8 | $ | 29.1 | $ | 33.6 | ||||||||||
Interest expense | 28.5 | 56.5 | 145.3 | 207.1 | 237.6 | |||||||||||||||
Total Fixed Charges | $ | 46.9 | $ | 78.7 | $ | 172.1 | $ | 236.2 | $ | 271.2 | ||||||||||
Ratio of earnings from continuing operations to fixed charges | 3.5 | 1.1 | — | — | — | |||||||||||||||
Deficiency of earnings to fixed charges | $ | — | $ | — | $ | (265.7 | ) | $ | (2,483.4 | ) | $ | (3,519.3 | ) | |||||||