EX-12 6 k75781exv12.txt COMPUTATION OF RATIOS EXHIBIT 12 HAYES LEMMERZ INTERNATIONAL, INC. RATIOS OF EARNINGS TO FIXED CHARGES (UNAUDITED) (MILLIONS OF DOLLARS EXCEPT RATIOS)
YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED JANUARY 31, JANUARY 31, JANUARY 31, JANUARY 31, JANUARY 31, 2003 2002 2001 2000 1999 ----------- ----------- ----------- ----------- -------- Earnings: Earnings (loss) before taxes on income, minority interest, cumulative effect of change in accounting principle and extraordinary gain........ $ (73.0) $ (385.8) $ (173.9) $ 88.9 $ 93.1 Interest expense: Bank borrowings and long-term debt....... 72.7 175.2 163.5 153.3 94.9 Rentals (1).............................. 9.4 10.3 10.3 8.7 7.2 ---------- ----------- ----------- ----------- ----------- Earnings (loss) before interest expense, taxes on income, minority interest, cumulative effect of change in accounting principle and extraordinary gain........ $ 9.1 $ (200.3) $ (0.1) $ 250.9 $ 195.2 ========= ============ ============ =========== =========== Fixed charges: Bank borrowings and long-term debt....... $ 72.7 $ 175.2 $ 163.5 $ 153.3 $ 94.9 Rentals (1).............................. 9.4 10.3 10.3 8.7 7.2 --------- ----------- ----------- ----------- ----------- Total fixed charges....................... $ 82.1 $ 185.5 $ 173.8 $ 162.0 $ 102.1 ========= =========== =========== =========== =========== Ratio of earnings (loss) to fixed charges. N/A (2) N/A (2) N/A (2) 1.55 1.91 ========= =========== =========== =========== =========== Coverage deficiency on fixed charges...... $ 73.0 $ 385.8 $ 173.9 N/A N/A ========= =========== =========== =========== ===========
(1)Estimated interest component of rent expense. (2)Earnings are inadequate to cover fixed charges.