EXHIBIT 12.1
AMKOR TECHNOLOGY, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS EXCEPT RATIO DATA)
YEAR ENDED DECEMBER 31, SIX MONTHS
------------------------------------------------------------- ENDED JUNE 30,
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) $ (564,309) $ (86,060)
Interest expense............................... 25,860 61,803 127,027 152,067 143,441 74,041
Amortization of debt issuance costs............ 1,217 3,466 7,013 22,321 8,251 12,896
Interest portion of rent....................... 2,584 3,481 4,567 7,282 4,995 2,503
Less (earnings) loss of affiliates............. -- 2,622 -- -- -- --
-------- --------- --------- ---------- ---------- ---------
$122,122 $ 158,866 $ 311,761 $ (256,828) $ (407,622) $ 3,380
======== ========= ========= ========== ========== =========
Fixed Charges
Interest expense............................... $ 25,860 $ 61,803 $ 127,027 $ 152,067 $ 143,441 $ 74,041
Amortization of debt issuance costs............ 1,217 3,466 7,013 22,321 8,251 12,896
Interest portion of rent....................... 2,584 3,481 4,567 7,282 4,995 2,503
-------- --------- --------- ---------- ---------- ---------
$ 29,661 $ 68,750 $ 138,607 $ 181,670 $ 156,687 $ 89,440
======== ========= ========= ========== ========== =========
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 six months
ended June 30, 2003. In order to achieve a ratio of earnings to fixed charges of
1:1, we would have had to generate an additional $86.1 million of earnings in
the six months ended June 30, 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.