EXHIBIT 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, NINE MONTHS ENDED
---------------------------------------------------------------- SEPTEMBER 30,
1997 1998 1999 2000 2001 2002
---------- ---------- ---------- ---------- ---------- -----------------
Earnings
Income (loss) before income taxes,
equity in income (loss) of investees
and minority interest ................. $ 61,006 $ 100,735 $ 105,288 $ 197,429 $ (429,950) $ (520,447)
Interest expense ........................ 37,993 25,860 61,803 127,027 152,067 107,734
Amortization of debt issuance costs ..... -- 1,217 3,466 7,013 22,321 6,170
Interest portion of rent ................ 2,236 2,584 3,481 4,567 7,282 3,751
Less (earnings) loss of affiliates ...... (512) -- 2,622 -- -- --
---------- ---------- ---------- ---------- ---------- ----------------
$ 100,723 $ 130,396 $ 176,660 $ 336,036 $ (248,280) $ (402,792)
========== ========== ========== ========== ========== ================
Fixed Charges
Interest expense ........................ 37,993 25,860 61,803 127,027 152,067 107,734
Amortization of debt issuance costs ..... -- 1,217 3,466 7,013 22,321 6,170
Interest portion of rent ................ 2,236 2,584 3,481 4,567 7,282 3,751
---------- ---------- ---------- ---------- ---------- ----------------
$ 40,229 $ 29,661 $ 68,750 $ 138,607 $ 181,670 $ 117,655
========== ========== ========== ========== ========== ================
Ratio of earnings to fixed charges 2.5x 4.4x 2.6x 2.4x -- x(1) -- x(1)
========== ========== ========== ========== ========== ================
(1) The ratio of earnings to fixed charges was less than 1:1 for the nine
months ended September 30, 2002. In order to achieve a ratio of earnings to
fixed charges of 1:1, we would have had to generate an additional $520.4 million
of earnings in the nine months ended September 30, 2002. We recorded charges
totaling $282.0 million in the nine months ended September 30, 2002 for goodwill
and long-lived asset impairments, lease termination costs and other exit costs.
The ratio of earnings to fixed charges was less than 1:1 for the year ended
December 31, 2001. In order to achieve a ratio of earnings to fixed charges of
1:1, we would have had to generate an additional $430.0 million of earnings in
the year ended December 31, 2001.
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