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EXHIBIT 12.1
SANMINA-SCI
Statement of Computation of Ratio of Earnings to Fixed Charges
Quarter Ended Fiscal Year
December 28, --------------------------
2002 2002 2001
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(In thousands, except ratios)
Fixed Charges:
Interest costs and amortization of debt discount
and debt issuance costs $ 21,477 $ 97,833 $ 55,218
Interest included in rental expense 2,369 9,756 12,646
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Total fixed charges $ 23,846 $ 107,589 $ 67,864
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Earnings:
Income (loss) before provision for income taxes (1) $ (11,207) $ (2,814,892) $ 82,792
Loss from investment in 50% or less owned companies 1,643 4,512 -
Fixed charges 23,846 107,589 67,864
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Total earnings for computation of ratio $ 14,282 $ (2,702,791) $ 150,656
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Ratio of earnings to fixed charges (2) 0.6X - 2.2X
Fiscal Year
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2000 1999 1998
--------- --------- ---------
(In thousands, except ratios)
Fixed Charges:
Interest costs and amortization of debt discount
and debt issuance costs $ 46,796 $ 43,064 $ 33,370
Interest included in rental expense 14,471 10,909 8,967
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Total fixed charges $ 61,267 $ 53,973 $ 42,337
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Earnings:
Income (loss) before provision for income taxes (1) $ 349,971 $ 169,367 $ 96,148
Loss from investment in 50% or less owned companies - - -
Fixed charges 61,267 53,973 42,337
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Total earnings for computation of ratio $ 411,238 $ 223,340 $ 138,485
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Ratio of earnings to fixed charges (2) 6.7X 4.1X 3.3X
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(1) Fiscal 2002 loss before provision for income taxes included goodwill
impairment losses of approximately $2.7 billion.
(2) Earnings for the quarter ended December 28, 2002 and fiscal year 2002
were not sufficient to cover fixed charges. The coverage deficiency was
approximately $9.6 million for the quarter ended December 28, 2002 and
approximately $2.8 billion for fiscal 2002.