EX-12.1
Published on 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. |