EX-12.1 8 ex12-1.txt STATEMENT RE COMPUTATION OF RATIOS 1 EXHIBIT 12.1 VISTEON CORPORATION AND SUBSIDIARIES CALCULATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES (dollar amounts in millions)
First For the Year Ended December 31, Half ----------------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 ------------- ------------- ------------- ------------- ------------- ------------- Earnings -------- Income before income taxes $ 503 $ 1,172 $ 1,116 $ 815 $ 604 $ 370 Equity in net (income)/loss of affiliates plus dividends from affiliates (6) (23) (9) (13) (31) (17) Adjusted fixed charges a/ 103 172 104 98 90 105 - ------------- ------------- ------------- ------------- ------------- ------------- Earnings $ 600 $ 1,321 $ 1,211 $ 900 $ 663 $ 458 ============= ============= ============= ============= ============= ============= Fixed Charges ------------- Interest expense b/ $ 91 $ 149 $ 86 $ 94 $ 79 $ 79 - Interest portion of rental expense c/ 14 24 17 12 7 33 - ------------- ------------- ------------- ------------ ------------- ------------- Fixed charges $ 105 $ 173 $ 103 $ 106 $ 86 $ 112 ============= ============= ============= ============ ============= ============= Ratios ------ Ratios of earnings to fixed charges 5.7 7.6 11.8 8.5 7.7 4.1
---------- a/ Fixed charges, as shown above, adjusted to exclude the amount of interest - capitalized during the period. b/ Includes interest, whether expensed or capitalized, and amortization of debt - expense and discount or premium relating to any indebtedness. c/ One-third of all rental expense is deemed to be interest.