EXHIBIT 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, THREE MONTHS ENDED
--------------------------------------------------------------------- MARCH 31,
1998 1999 2000 2001 2002 2003
----------- ----------- ----------- ----------- ----------- -----------
Earnings
Income (loss) before income taxes,
equity in income (loss) of
investees, minority interest and
discontinued operations............. $ 92,461 $ 87,494 $ 173,154 $ (438,498) $ (564,304) $ (40,728)
Interest expense...................... 25,860 61,803 127,027 152,067 143,441 35,554
Amortization of debt issuance costs... 1,217 3,466 7,013 22,321 8,251 2,080
Interest portion of rent.............. 2,584 3,481 4,567 7,282 4,995 1,396
Less (earnings) loss of affiliates.... -- 2,622 -- -- -- --
----------- ----------- ----------- ----------- ----------- -----------
$ 122,122 $ 158,866 $ 311,761 $ (256,828) $ (407,617) $ (1,698)
=========== =========== =========== =========== =========== ===========
Fixed Charges
Interest expense...................... $ 25,860 $ 61,803 $ 127,027 $ 152,067 $ 143,441 $ 35,554
Amortization of debt issuance costs... 1,217 3,466 7,013 22,321 8,251 2,080
Interest portion of rent.............. 2,584 3,481 4,567 7,282 4,995 1,396
----------- ----------- ----------- ----------- ----------- -----------
$ 29,661 $ 68,750 $ 138,607 $ 181,670 $ 156,687 $ 39,030
=========== =========== =========== =========== =========== ===========
Ratio of earnings to fixed charges 4.1x 2.3x 2.2x --x(1) --x(1) --x(1)
=========== =========== =========== =========== =========== ===========
(1) The ratio of earnings to fixed charges was less than 1:1 for the three
months ended March 31, 2003. In order to achieve a ratio of earnings to fixed
charges of 1:1, we would have had to generate an additional $40.7 million of
earnings in the three months ended March 31, 2003. The ratio of earnings to
fixed charges was less than 1:1 for the year ended December 31, 2002. In order
to achieve a ratio of earnings to fixed charges of 1:1, we would have had to
generate an additional $564.3 million of earnings in the year ended December 31,
2002. 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 $438.5 million of
earnings in the year ended December 31, 2001.
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