EX-12.1 5 k07551exv12w1.txt STATEMENT RE: COMPUTATION OF RATIOS EXHIBIT 12.1 Visteon Corporation and Subsidiaries COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in millions)
Six-months Ended For the Years Ended December 31, June 30, 2006 2005 2004 2003 2002 2001 ------------- ---- ---- ---- ---- ---- Earnings Income/(loss) before income taxes, minority interest and change in accounting $ 113 $(173) $(539) $(1,194) $(160) $(164) Earnings of non-consolidated affiliates (19) (25) (45) (55) (44) (24) Cash dividends received from non-consolidated affiliates 22 48 42 35 16 12 Fixed charges 112 185 140 126 139 174 Amortization of capitalized interest, net of interest capitalized 3 4 1 3 1 (2) ----- ----- ----- ------- ----- ----- Earnings $ 231 $39 $(401) $(1,085) $ (48) $ (4) ===== ===== ===== ======= ===== ===== Fixed Charges Interest and related charges on debt $ 100 $ 158 $ 109 $ 97 $ 109 $ 139 Portion of rental expense representative of the interest factor 12 27 31 29 30 35 ----- ----- ----- ------- ----- ----- Fixed charges $ 112 $ 185 $ 140 $ 126 $ 139 $ 174 ===== ===== ===== ======= ===== ===== Ratios Ratio of earnings to fixed charges* 2.1 N/A N/A N/A N/A N/A
---------- * For the years ended December 31, 2005, 2004, 2003, 2002 and 2001, fixed charges exceed earnings by $146 million, $541 million, $1,211 million, $187 million and $178 million, respectively, resulting in a ratio of less than one.