EX-12.1 3 ex-121201310xk.htm EXHIBIT 12.1 EX-12.1 2013 10-K


EXHIBIT 12.1

 
Visteon Corporation and Subsidiaries
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
(in millions)
 
Successor
 
 
Predecessor
 
Year ended
 
Year ended
Year ended
3 Months
 
 
9 Months
 
Year Ended
 
December 31
 
December 31
 
December 31
 
December 31
 
 
September 30
 
December 31
 
2013
 
2012
 
2011
 
2010
 
 
2010
 
2009
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
Income/(loss) before income taxes, non-controlling interest, discontinued operations
$
882

 
$
291

 
$
337

 
$
129

 
 
$
1,130

 
$
299

Earnings of non-consolidated affiliates
(213
)
 
(226
)
 
(168
)
 
(41
)
 
 
(105
)
 
(80
)
Cash dividends received from non-consolidated affiliates
187

 
104

 
47

 
—

 
 
12

 
48

Fixed charges
65

 
64

 
63

 
18

 
 
180

 
138

Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges
(38
)
 
(21
)
 
(7
)
 
(2
)
 
 
(6
)
 
(4
)
      Earnings
$
883

 
$
212

 
$
272

 
$
104

 
 
$
1,211

 
$
401

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest and related charges on debt
$
47

 
$
49

 
$
48

 
$
15

 
 
$
169

 
$
117

Portion of rental expense representative of the interest factor
18

 
15

 
15

 
3

 
 
11

 
21

      Fixed charges
$
65

 
$
64

 
$
63

 
$
18

 
 
$
180

 
$
138

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratios
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
13.67

 
3.34

 
4.34

 
5.69

 
 
6.73

 
2.91