EX-12.1 5 k85248exv12w1.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS exv12w1
 

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
EXHIBIT 12.1 – COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(
Unaudited)

                                         
    Year Ended December 31,
    2003   2002   2001   2000   1999
    (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  
     
         
Three Months Ended March 31, 2004
       
Fixed Charges:
       
Interest expense, including amortization of debt issuance costs
  $ 8.6  
Estimated interest portion of rents
    3.0  
Capitalized interest
    1.5  
 
       
Total fixed charges as defined
    13.1  
 
       
Earnings:
       
Income form continuing operations before income tax expense
  $ 55.7  
Total fixed charges as defined
    13.1  
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense
    (1.5 )
 
       
Total earnings as defined
  $ 67.3  
 
       
 
       
Ratio of Earnings to Fixed Charges
    5.14