EX-12.1 9 k60196ex12-1.txt STATEMENT RE: COMPUTATION OF RATIOS 1 EXHIBIT 12.1 Visteon Corporation and Subsidiaries CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (in millions)
For the Years Ended December 31, ---------------------------------------------------- 2000 1999 1998 1997 1996 -------- -------- -------- -------- -------- Earnings Income before income taxes $ 439 $ 1,172 $ 1,116 $ 815 $ 604 Equity in net (income)/loss of affiliates plus dividends from affiliates (39) (23) (9) (13) (31) Adjusted fixed charges a/ 212 172 104 98 90 ------- ------- ------- ------- ------- Earnings $ 612 $ 1,321 $ 1,211 $ 900 $ 663 ======= ======= ======= ======= ======= Fixed Charges Interest expense b/ $ 176 $ 149 $ 86 $ 94 $ 79 Interest portion of rental expense c/ 39 24 17 12 7 ------- ------- ------- ------- ------- Fixed charges $ 215 $ 173 $ 103 $ 106 $ 86 ======= ======= ======= ======= ======= Ratios Ratios of earnings to fixed charges 2.8 7.6 11.8 8.5 7.7
---------- a/ Fixed charges, as shown below, adjusted to exclude the amount of interest capitalized during the period. b/ Includes interest, whether expensed or capitalized, and amortization of debt issuance expense and discount or premium relating to any indebtedness. c/ One-third of all rental expense is deemed to be interest.