EX-12.1 6 k12710exv12w1.htm STATEMENT RE: COMPUTATION OF RATIOS exv12w1
 

EXHIBIT 12.1
Visteon Corporation and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
                                         
    Twelve Months        
    Ended     For the Years Ended December 31,  
    December 31, 2006     2005     2004     2003     2002  
Earnings
                                        
Income/(loss) before income taxes, minority interest and change in accounting
   $ (111 )   $ (173 )   $ (539 )   $ (1,194 )   $ (160 )
Earnings of non-consolidated affiliates
     (33 )     (25 )     (45 )     (55 )     (44 )
Cash dividends received from non-consolidated affiliates
     24       48       42       35       16  
Fixed charges
     213       185       140       126       139  
Amortization of capitalized interest, net of interest capitalized
     6       4       1       3       1  
 
                              
Earnings
   $ 99     $ 39     $ (401 )   $ (1,085 )   $ (48 )
 
                              
 
                                        
Fixed Charges
                                        
Interest and related charges on debt
   $ 190     $ 158     $ 109     $ 97     $ 109  
Portion of rental expense representative of the interest factor
     23       27       31       29       30  
 
                              
Fixed charges
   $ 213     $ 185     $ 140     $ 126     $ 139  
 
                              
 
                                        
Ratios
                                        
Ratio of earnings to fixed charges*
     N/A       N/A       N/A       N/A       N/A  
 
*   For the years ended December 31, 2006, 2005, 2004, 2003, and 2002, fixed charges exceed earnings by $115 million, $146 million, $541 million, $1,211 million, and $187 million, respectively, resulting in a ratio of less than one.