EX-12 6 k60495ex12.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS ex12

EXHIBIT 12 — COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
                                         
Year Ended December 31,

2000 1999 1998 1997 1996





(Unaudited)
(In millions, except for ratios)
Fixed Charges:
                                       
Interest expense, including amortization of debt issuance costs
  $ 65.7     $ 61.7     $ 44.8     $ 9.0     $ 0.3  
Estimated interest portion of rents
    15.0       12.0       4.7       3.2       1.5  
Capitalized interest
    11.9       8.5       3.8       0.2        
Preferred stock dividend
                      12.0       17.9  
Gross-up of preferred stock dividend as if it were pre-tax
                      6.8       10.1  
     
     
     
     
     
 
Total fixed charges as defined
    92.6       82.2       53.3       31.2       29.8  
 
Earnings:
                                       
Income from continuing operations before income tax expense
    203.4       183.4       5.6       94.2       98.3  
Total fixed charges as defined
    92.6       82.2       53.2       31.2       29.8  
Fixed charges not deducted in the determination of income from continuing operations before income tax expense
    (11.9 )     (8.5 )     (3.8 )     (19.0 )     (28.0 )
     
     
     
     
     
 
Total earnings as defined
  $ 284.1     $ 257.1     $ 55.0     $ 106.4     $ 100.1  
 
Ratio of earnings to fixed charges
    3.07       3.13       1.03       3.41       3.36  
     
     
     
     
     
 

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