EX-12.1 5 k23981exv12w1.htm STATEMENT RE: COMPUTATION OF RATIOS exv12w1
 

EXHIBIT 12.1
Visteon Corporation and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
                                         
    For the Years Ended December 31,  
    2007     2006     2005     2004     2003  
Earnings
                                        
Income/(loss) before income taxes, minority interest, discontinued operations and change in accounting
   $ (285 )   $ (89 )   $ (165 )   $ (540 )   $ (1,055 )
Earnings of non-consolidated affiliates
     (47 )     (33 )     (25 )     (45 )     (55 )
Cash dividends received from non-consolidated affiliates
     71       24       48       42       35  
Fixed charges
     249       212       185       140       126  
Amortization of capitalized interest, net of interest capitalized
     6       6       4       1       3  
 
                              
Earnings
   $ (6 )   $ 120     $ 47     $ (402 )   $ (946 )
 
                              
 
                                        
Fixed Charges
                                        
Interest and related charges on debt
   $ 226     $ 190     $ 158     $ 109     $ 97  
Portion of rental expense representative of the interest factor
     27       23       27       31       29  
 
                              
Fixed charges
   $ 253     $ 213     $ 185     $ 140     $ 126  
 
                              
 
                                        
Ratios
                                        
Ratio of earnings to fixed charges*
     N/A       N/A       N/A       N/A       N/A  
 
*   For the year ended December 31, 2007, 2006, 2005, 2004, and 2003,
 
    fixed charges exceed earnings by $259 million, $93 million, $138 million,
 
    $542 million and $1,072 million, respectively, resulting in a ratio of less than one.