EX-12 3 exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
 
                       
                       
   
Year Ended December 31,
  
   
2004
  
2003
  
2002
  
2001
  
2000
  
     (Unaudited)  
     (In millions, except for ratios)  
Fixed Charges:
                                
Interest expense, including amortization of debt issuance costs
  
$
25.8
  
$
47.5
  
$
51.0
  
$
60.2
  
$
65.7
  
Estimated interest portion of rents
    
11.7
   
12.2
   
15.8
   
16.6
   
15.0
 
Capitalized interest
    
5.8
   
6.0
   
8.2
   
13.2
   
11.9
 
Total fixed charges as defined
    
43.3
   
65.7
   
75.0
   
90.0
   
92.6
 
                                 
Earnings:
                                
Income from continuing operations before income tax expense
    
235.8
   
303.2
   
273.8
   
180.9
   
203.4
 
Total fixed charges as defined
    
43.3
   
65.7
   
75.0
   
90.0
   
92.6
 
Fixed charges not deducted in the determination of income from continuing operations before income tax expense
    
(5.8
)
  
(6.0
)
  
(8.2
)
  
(13.2
)
  
(11.9
)
Total earnings as defined
  
$
273.3
  
$
362.9
  
$
340.6
  
$
257.7
  
$
284.1
  
                                 
Ratio of earnings to fixed charges
    
6.31
   
5.52
   
4.54
   
2.86
   
3.07
 
 
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