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,
1999 2000 2001 2002 2003 2004
--------- --------- ----------- ----------- ---------- ------------------
Earnings
Income (loss) before income taxes, equity in
income (loss) of investees, minority
interest and discontinued operations........ $ 87,494 $173,154 $(438,498) $(564,309) $(45,303) $ 12,703
Interest expense............................... 61,803 127,027 138,629 143,441 138,775 32,665
Amortization of debt issuance costs............ 3,466 7,013 22,321 8,251 7,428 1,357
Interest portion of rent....................... 3,481 4,567 7,282 4,995 5,463 1,400
Less (earnings) loss of affiliates............. 2,622 -- -- -- -- --
-------- -------- --------- --------- -------- ------------------
$158,866 $311,761 $(270,266) $(407,622) $106,363 $ 48,125
======== ======== ========= ========== ======== ==================
Fixed Charges
Interest expense............................... $ 61,803 $127,027 $ 138,629 $ 143,441 $138,775 $ 32,665
Amortization of debt issuance costs............ 3,466 7,013 22,321 8,251 7,428 1,357
Interest portion of rent....................... 3,481 4,567 7,282 4,995 5,463 1,400
-------- -------- --------- --------- -------- ------------------
$ 68,750 $138,607 $ 168,232 $ 156,687 $151,666 $ 35,422
======== ======== ========= ========= ======== ==================
Ratio of earnings to fixed charges 2.3x 2.2x -- x(1) -- x(1) -- x(1) 1.4x
======== ======== ========= ========= ======== ==================
(1). The ratio of earnings to fixed charges was less than 1:1 for the year ended
December 31, 2003. In order to achieve a ratio of earnings to fixed charges of
1:1, we would have had to generate an additional $45.3 million of earnings in
the year ended December 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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