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EXHIBIT 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31,
-----------------------------------------------------
1996 1997 1998
---------------- ---------------- ----------------
Earnings
Income before income taxes and equity in
income (loss) of investees.......... $ 43,012 $ 61,006 $ 100,735
Interest expense........................ 27,716 37,993 25,860
Amortization of debt issuance costs..... -- -- 1,217
Interest portion of rent................ 1,822 2,236 2,584
Less (earnings) loss of affiliates...... (661) (512) --
---------------- ---------------- ----------------
$ 71,889 $ 100,723 $ 130,396
================ ================ ================
Fixed Charges
Interest expense........................ 27,716 37,993 25,860
Amortization of debt issuance costs..... -- -- 1,217
Interest portion of rent................ 1,822 2,236 2,584
---------------- ---------------- ----------------
$ 29,538 $ 40,229 $ 29,661
================ ================ ================
Ratio of earnings to fixed charges 2.4x 2.5x 4.4x
================ ================ ================
YEAR ENDED DECEMBER 31,
SIX MONTHS ENDED
----------------------- JUNE 30,
1999 2000 2001
---------------- ---------------- ----------------
Earnings
Income before income taxes and equity in
income (loss) of investees.......... $ 105,288 $ 197,429 $ (163,067)
Interest expense........................ 61,803 127,027 76,457
Amortization of debt issuance costs..... 3,466 7,013 14,124
Interest portion of rent................ 3,481 4,567 4,182
Less (earnings) loss of affiliates...... 2,622 -- --
---------------- ---------------- ----------------
$ 176,660 $ 336,036 $ (68,304)
================ ================ ================-
Fixed Charges
Interest expense........................ 61,803 127,027 76,457
Amortization of debt issuance costs..... 3,466 7,013 14,124
Interest portion of rent................ 3,481 4,567 4,182
---------------- ---------------- ----------------
$ 68,750 $ 138,607 $ 94,763
================ ================ ================
Ratio of earnings to fixed charges 2.6x 2.4x -- x(1)
================ ================ ===============
(1) The ratio of earnings to fixed charges was less than 1:1 for the six months
ended June 30, 2001. In order to achieve a ratio of earnings to fixed charges of
1:1, we would have had to generate an additional $163.1 million of earnings in
the six months ended June 30, 2001.
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