Exhibit 12.1
MagnaChip Semiconductor LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Predecessor |
Successor |
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| For the year ended December 31, |
For the three months ended March 31, 2004 |
For nine September 30, |
For the three months ended |
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| 2001 |
2002 |
2003 |
December 31, 2004 |
April 3, 2005 |
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| Actual | Actual | Actual | Actual | Actual | Actual | Actual | |||||||||||||||||||||
| (in millions of US dollars, except ratios and per unit data) | |||||||||||||||||||||||||||
| Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
$ | (154.9 | ) | $ | (176.5 | ) | $ | (112.3 | ) | $ | 9.1 | $ | 46.0 | $ | 0.9 | $ | (28.9 | ) | |||||||||
| Fixed charges: |
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| Interest expense and amortization of debt discount and premium on all indebtedness |
92.0 | 46.9 | 38.0 | 7.3 | 18.0 | 17.6 | 14.2 | ||||||||||||||||||||
| Rent expense |
0.5 | 0.8 | 0.5 | 0.3 | 0.8 | 0.5 | 0.5 | ||||||||||||||||||||
| Preferred stock dividend requirements of consolidated subsidiaries |
— | — | — | — | — | 13.4 | 2.4 | ||||||||||||||||||||
| Total fixed charges |
$ | 92.5 | $ | 47.7 | $ | 38.5 | $ | 7.6 | $ | 18.8 | $ | 31.5 | $ | 17.1 | |||||||||||||
| Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries |
$ | (62.4 | ) | $ | (128.8 | ) | $ | (73.8 | ) | $ | 16.7 | $ | 64.8 | $ | 19.0 | $ | (14.2 | ) | |||||||||
| Ratio of earnings to fixed charges |
— | — | — | 2.2 | 3.4 | — | — | ||||||||||||||||||||
| (*) Applying one-third of rental expenses relating to operating leases as the interest portion |
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| (**) To achieve a one to one earnings ratio the company would need to have additional income of: |
$ | 154.9 | $ | 176.5 | $ | 112.3 | $ | N/A | $ | N/A | $ | 12.5 | $ | 31.3 | |||||||||||||