EX-12.1 10 doc8.htm RATIO OF EARNINGS doc8.htm

Exhibit 12.1

 
BorgWarner Inc.
   
Ratio of Earnings to Fixed Charges
 



       
2004
2005
2006
2007
2008
2009
2010
 Computation of Earnings:
               
                     
 Earnings before Income taxes and Minority Interest
     308.6
        314.2
     270.3
     430.4
          14.0
       17.9
     477.9
                     
 Income in Equity Investees
 
      (29.2)
         (28.2)
      (35.9)
      (40.3)
         (38.4)
      (21.8)
      (39.6)
                     
 Fixed Charges
   
       40.0
          51.3
       56.2
       54.2
          62.6
       77.9
       88.5
                     
 Cap Interest Amortization Exp
 
         2.9
           3.0
         3.9
         4.9
           5.8
         6.8
         7.4
                     
 Distributed Income of Equity Investees
 
       23.9
          12.9
       44.2
       18.2
          40.6
       49.5
       37.0
                     
 Capitalized Interest
   
        (4.3)
          (6.9)
        (8.5)
        (9.6)
         (13.3)
      (11.2)
      (11.2)
                     
 TOTAL EARNINGS
   
     341.9
        346.3
     330.2
     457.8
          71.3
     119.1
     560.0
                     
                     
Computation of Fixed Charges:
               
                     
Interest Expense
   
       29.7
          37.1
       40.2
       34.7
          38.8
       57.2
       68.8
                     
Capitalized Interest
   
         4.3
           6.9
         8.5
         9.6
          13.3
       11.2
       11.2
                     
Rent Expense
     
       18.0
          21.9
       22.4
       29.8
          31.5
       28.5
       25.6
                     
1/3 of Rent Expense
   
         6.0
           7.3
         7.5
         9.9
          10.5
         9.5
         8.5
                     
TOTAL FIXED CHARGES
   
       40.0
          51.3
       56.2
       54.2
          62.6
       77.9
       88.5
                     
                     
RATIO OF EARNINGS TO FIXED CHARGES
       8.55
          6.75
       5.88
       8.45
          1.14
       1.53
       6.33