EX-12.1 2 k57967ex12-1.txt STATEMENT RE: COMPUTATION OF RATIOS 1 EXHIBIT 12.1 Visteon Corporation and Subsidiaries CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (in millions)
First Nine For the Year Ended December 31, Months ---------------------------------------------------------------- 2000 1999 1998 1997 1996 1995 ---------- ----------- ----------- ---------- ---------- ------------ Earnings Income before income taxes $ 585 $ 1,172 $ 1,116 $ 815 $ 604 $ 370 Equity in net (income)/loss of affiliates plus dividends from affiliates (8) (23) (9) (13) (31) (17) Adjusted fixed charges a/ 158 172 104 98 90 105 --------- ---------- ---------- --------- --------- ----------- Earnings $ 735 $ 1,321 $ 1,211 $ 900 $ 663 $ 458 ========= ========== ========== ========= ========= =========== Fixed Changes Interest expense b/ $ 133 $ 149 $ 86 $ 94 $ 79 $ 79 Interest portion of rental expense c/ 28 24 17 12 7 33 --------- ---------- ---------- --------- --------- ----------- Fixed charges $ 161 $ 173 $ 103 $ 106 $ 86 $ 112 ========= =========== ========== ========= ========= =========== Ratios Ratios of earnings to fixed charges 4.6 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.