EX-12 7 k81974exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12 — COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
                                         
Year Ended December 31,
2003 2002 2001 2000 1999
(Unaudited)
(In millions, except for ratios)
Fixed Charges:
                                        
Interest expense, including amortization of debt issuance costs
  $ 47.5     $ 51.0     $ 60.2     $ 65.7     $ 61.7  
Estimated interest portion of rents
    12.2       15.8       16.6       15.0       12.0  
Capitalized interest
    6.0       8.2       13.2       11.9       8.5  
   
   
   
   
   
 
Total fixed charges as defined
    65.7       75.0       90.0       92.6       82.2  
 
Earnings:
                                        
Income from continuing operations before income tax expense
    303.2       273.8       180.9       203.4       183.4  
Total fixed charges as defined
    65.7       75.0       90.0       92.6       82.2  
Fixed charges not deducted in the determination of income from continuing operations before income tax expense
    (6.0 )     (8.2 )     (13.2 )     (11.9 )     (8.5 )
   
   
   
   
   
 
Total earnings as defined
  $ 362.9     $ 340.6     $ 257.7     $ 284.1     $ 257.1  
 
Ratio of earnings to fixed charges
     5.52       4.54       2.86       3.07       3.13  
   
   
   
   
   
 

22