EX-12.1 3 d463352dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

COMMERCIAL VEHICLE GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

($ in thousands)

 

     Year Ended December 31,  
     2012      2011      2010      2009     2008  

EARNINGS

              

Pre-tax income from operations

    $ 23,082       $ 21,685       $ 4,662       $ (97,834 )    $ (220,728 ) 

Fixed charges

      23,938         30,218         19,892         19,607        18,777   

Capitalized interest

      —           —           —           —          —     
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Earnings available for fixed charges

    $ 47,020       $ 51,903       $ 24,554       $ (78,227 )    $ (201,951 ) 

FIXED CHARGES:

              

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

    $ 20,945       $ 27,018       $ 16,834       $ 16,387      $ 15,389   

Capitalized interest

      —           —           —           —          —     

Interest component of rent expense 1

      2,993         3,200         3,058         3,220        3,388   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total fixed charges

    $ 23,938       $ 30,218       $ 19,892       $ 19,607      $ 18,777   

Ratio of earnings to fixed charges 2

      1.96         1.72         1.23         (3.99 )      (10.76 ) 

 

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 and $220.7 million for the years ended December 31, 2009 and 2008, respectively.