ex12

EX-12 4 k69017ex12.htm COMPUTATION OF RATIOS ex12

Exhibit 12

HAYES LEMMERZ INTERNATIONAL, INC.

RATIOS OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Millions of dollars except ratios)


		Year		Year		Year			Year
		Ended		Ended		Ended			Ended
		January 31,		January 31,		January 31,			January 31,
		1999		2000		2001			2002

Earnings:




	Earnings (loss) before taxes on income, minority interest and extraordinary gain	$	93.1	$	88.9	$	(173.9	)		(385.8	)




Interest expense:




	Bank borrowings and long-term debt		94.9		153.3	$	163.5			175.2




Rentals⁽¹⁾			7.2		8.7		10.3			10.3

Earnings (loss) before interest expense, taxes on income, minority interest and extraordinary gain		$	195.2	$	250.9	$	(0.1	)		(200.3	)

Fixed charges:




Bank borrowings and long-term debt		$	94.9	$	153.3	$	163.5			175.2




Rentals⁽¹⁾			7.2		8.7		10.3			10.3

Total fixed charges		$	102.1	$	162.0	$	173.8			185.5

Ratio of earnings (loss) to fixed charges			1.91		1.55		N/A	⁽²⁾		N/A	⁽²⁾

Coverage deficiency on fixed charges			N/A		N/A		173.9			385.8

⁽¹⁾ Estimated interest component of rent expense.

⁽²⁾ Earnings are inadequate to cover fixed charges.

⁽¹⁾		Estimated interest component of rent expense.
⁽²⁾		Earnings are inadequate to cover fixed charges.