EX-12.1 9 k26002exv12w1.htm STATEMENT RE: COMPUTATION OF RATIOS exv12w1
 

EXHIBIT 12.1
Visteon Corporation and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
                                         
    Three Months        
    Ended     For the Years Ended December 31,  
    March 31, 2008     2007     2006     2005     2004  
Earnings
                                        
Income/(loss) before income taxes, minority interest, discontinued operations and change in accounting and extraordinary item
   $ (42 )   $ (285 )   $ (89 )   $ (165 )   $ (540 )
Earnings of non-consolidated affiliates
     (15 )     (47 )     (33 )     (25 )     (45 )
Cash dividends received from non-consolidated affiliates
     —       71       24       48       42  
Fixed charges
     62       249       212       185       140  
Amortization of capitalized interest, net of interest capitalized
     2       6       6       4       1  
 
                              
Earnings
   $ 7     $ (6 )   $ 120     $ 47     $ (402 )
 
                              
 
                                        
Fixed Charges
                                        
Interest and related charges on debt
   $ 57     $ 226     $ 190     $ 158     $ 109  
Portion of rental expense representative of the interest factor
     7       27       23       27       31  
 
                              
Fixed charges
   $ 64     $ 253     $ 213     $ 185     $ 140  
 
                              
 
                                        
Ratios
                                        
Ratio of earnings to fixed charges *
     N/A       N/A       N/A       N/A       N/A  
 
*   For the three months ended March 31, 2008 and year ended December 31, 2007, 2006, 2005 and 2004 fixed charges exceed earnings by $57 million, $259 million, $93 million, $138 million and $542 million, respectively, resulting in a ratio of less than one.