EX-12.1 3 d309507dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Computation of ratio of earnings to fixed charges.

EXHIBIT 12.1

COMMERCIAL VEHICLE GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

($ in thousands)

 

     Year Ended December 31,  
     2011      2010      2009     2008     2007  

EARNINGS

             

Pre-tax income from operations

    $ 21,685       $ 4,662       $ (97,834 )    $ (220,728 )    $ (4,836 ) 

Fixed charges

      30,218         19,892         19,607        18,777        16,650   

Capitalized interest

      —         —         —        —        —   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

Earnings available for fixed charges

    $ 51,903       $ 24,554       $ (78,227 )    $ (201,951 )    $ 11,814   

FIXED CHARGES:

             

Interest expense (including debt issuance costs amortized to interest expense)

    $ 27,018       $ 16,834       $ 16,387      $ 15,389      $ 14,296   

Capitalized interest

      —         —         —        —        —   

Interest component of rent expense1

      3,200         3,058         3,220        3,388        2,354   
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 30,218       $ 19,892       $ 19,607      $ 18,777      $ 16,650   

Ratio of earnings to fixed charges2

      1.72         1.23         (3.99 )      (10.76 )      0.71   

 

1 

For purposes of calculating the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes and cumulative effect of change in accounting principles plus fixed charges. Fixed charges include interest expense (including amortization of deferred financing costs) and an estimate of operating rental expense, approximately 20%, which management believes is representative of the interest component.

 

2

Earnings before fixed charges were inadequate to cover fixed charges by $97.8 million, $220.7 million and $4.8 million for the years ended December 31, 2009, 2008 and 2007, respectively.