EX-12.1 2 k63963ex12-1.htm EX-12.1 - STATEMENT OF COMPUTATION OF RATIOS ex12-1

Exhibit 12.1

Visteon Corporation and Subsidiaries
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

                                                     
First Six For the Years Ended December 31,
Months
2001 2000 1999 1998 1997 1996






Earnings
Income before income taxes
$ (2 ) $ 439 $ 1,172 $ 1,116 $ 815 $ 604
Equity in net (income)/loss of affiliates plus dividends from affiliates
(2 ) (39 ) (23 ) (9 ) (13 ) (31 )
Adjusted fixed charges a/
94 212 172 104 98 90






Earnings
$ 90 $ 612 $ 1,321 $ 1,211 $ 900 $ 663






Fixed Charges
Interest expense b/
$ 76 $ 176 $ 149 $ 86 $ 94 $ 79
Interest portion of rental expense c/
19 39 24 17 12 7






Fixed charges
$ 95 $ 215 $ 173 $ 103 $ 106 $ 86






Ratios
Ratios of earnings to fixed charges d/
N/A 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.
    d/ For the six months ended June 30, 2001, fixed charges exceeded earnings by $5 million, resulting in a ratio of less than one.