EX-12.1 2 d834609dex121.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,  
     2014      2013     2012      2011      2010  

EARNINGS

             

Pre-tax income from operations

   $ 12,762       $ (14,788   $ 23,082       $ 21,685       $ 4,662   

Fixed charges

     23,230         23,724        23,938         30,218         19,892   

Capitalized interest

     —           —          —           —           —     
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Earnings available for fixed charges

   $ 35,992       $ 8,936      $ 47,020       $ 51,903       $ 24,554   

FIXED CHARGES:

             

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

   $ 20,716       $ 21,087      $ 20,945       $ 27,018       $ 16,834   

Capitalized interest

     —           —          —           —           —     
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Interest component of rent expense 1

     2,513         2,637        2,993         3,200         3,058   

Total fixed charges

   $ 23,229       $ 23,724      $ 23,938       $ 30,218       $ 19,892   

Ratio of earnings to fixed charges

     1.55         0.38        1.96         1.72         1.23   

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.