Exhibit 12.1
TTM TECHNOLOGIES, INC.
Computation of Ratio of Earnings to Fixed Charges
Year Ended | ||||||||||||||||||||
December 30, 2013 | December 31, 2012 | December 31, 2011 | December 31, 2010 | December 31, 2009 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 24,031 | $ | 25,784 | $ | 26,504 | $ | 22,255 | $ | 11,198 | ||||||||||
Interest capitalized | 1,125 | 1,774 | 1,828 | 1,522 | 287 | |||||||||||||||
Estimated interest within rental expense | 1,121 | 1,034 | 994 | 1,043 | 1,501 | |||||||||||||||
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Total Fixed Charges | 26,277 | 28,592 | 29,326 | 24,820 | 12,986 | |||||||||||||||
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Earnings: | ||||||||||||||||||||
Net income (loss) | 23,893 | (181,100 | ) | 47,227 | 79,899 | 4,857 | ||||||||||||||
Fixed charges per above | 26,277 | 28,592 | 29,326 | 24,820 | 12,986 | |||||||||||||||
Income tax provision | 15,879 | 12,728 | 26,005 | 28,738 | 3,266 | |||||||||||||||
Less: capitalized interest | (1,125 | ) | (1,774 | ) | (1,828 | ) | (1,522 | ) | (287 | ) | ||||||||||
Amortization of interest capitalized | 325 | 278 | 235 | 181 | 137 | |||||||||||||||
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Total earnings | 65,249 | (141,276 | ) | 100,965 | 132,116 | 20,959 | ||||||||||||||
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Ratio of fixed charges | 2.5x | n/a | (1) | 3.4x | 5.3x | 1.6x | ||||||||||||||
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(1) | Earnings were not sufficient to cover fixed charges for period indicated. Additional earnings of $169,868 for the year ended December 31, 2012 would have been required to achieve a ratio of 1:1. |