Form: 10-K

Annual report pursuant to Section 13 and 15(d)

February 25, 2016

Exhibit 12.1

TTM TECHNOLOGIES, INC.

Computation of Ratio of Earnings to Fixed Charges

 

     Year Ended  
     December 28,
2015
    December 29,
2014
    December 30,
2013
    December 31,
2012
    December 31,
2011
 
     (In thousands)  

Fixed Charges:

          

Interest expense

   $ 59,753      $ 23,830      $ 24,031      $ 25,784      $ 26,504   

Interest capitalized

     888        551        1,125        1,774        1,828   

Estimated interest within rental expense

     2,454        1,244        1,121        1,034        994   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

     63,095        25,625        26,277        28,592        29,326   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings:

          

Net (loss) income

     (25,618     14,693        23,893        (181,100     47,227   

Fixed charges per above

     63,095        25,625        26,277        28,592        29,326   

Income tax provision

     34,594        7,598        15,879        12,728        26,005   

Less: capitalized interest

     (888     (551     (1,125     (1,774     (1,828

Amortization of interest capitalized

     391        316        325        278        235   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

     71,574        47,681        65,249        (141,276     100,965   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of fixed charges

     1.1x        1.9x        2.5x        n/a (1)      3.4x   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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.