EX-12.1
Published on February 27, 2015
Exhibit 12.1
TTM TECHNOLOGIES, INC.
Computation of Ratio of Earnings to Fixed Charges
| Year Ended | ||||||||||||||||||||
| December 29, 2014 |
December 30, 2013 |
December 31, 2012 |
December 31, 2011 |
December 31, 2010 |
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| (In thousands) | ||||||||||||||||||||
| Fixed Charges: |
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| Interest expense |
$ | 23,830 | $ | 24,031 | $ | 25,784 | $ | 26,504 | $ | 22,255 | ||||||||||
| Interest capitalized |
551 | 1,125 | 1,774 | 1,828 | 1,522 | |||||||||||||||
| Estimated interest within rental expense |
1,244 | 1,121 | 1,034 | 994 | 1,043 | |||||||||||||||
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| Total Fixed Charges |
25,625 | 26,277 | 28,592 | 29,326 | 24,820 | |||||||||||||||
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| Earnings: |
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| Net income (loss) |
14,693 | 23,893 | (181,100 | ) | 47,227 | 79,899 | ||||||||||||||
| Fixed charges per above |
25,625 | 26,277 | 28,592 | 29,326 | 24,820 | |||||||||||||||
| Income tax provision |
7,598 | 15,879 | 12,728 | 26,005 | 28,738 | |||||||||||||||
| Less: capitalized interest |
(551 | ) | (1,125 | ) | (1,774 | ) | (1,828 | ) | (1,522 | ) | ||||||||||
| Amortization of interest capitalized |
316 | 325 | 278 | 235 | 181 | |||||||||||||||
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| Total earnings |
47,681 | 65,249 | (141,276 | ) | 100,965 | 132,116 | ||||||||||||||
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| Ratio of fixed charges |
1.9x | 2.5x | n/a | (1) | 3.4x | 5.3x | ||||||||||||||
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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. |