EX-12.1 6 k14915exv12w1.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, 2007     2006     2005     2004     2003  
Earnings
                                        
Income/(loss) before income taxes, minority interest and change in accounting
   $ (130 )   $ (111 )   $ (173 )   $ (539 )   $ (1,194 )
Earnings of non-consolidated affiliates
     (9 )     (33 )     (25 )     (45 )     (55 )
Cash dividends received from non-consolidated affiliates
     —       24       48       42       35  
Fixed charges
     55       213       185       140       126  
Amortization of capitalized interest, net of interest capitalized
     2       6       4       1       3  
 
                              
Earnings
   $ (82 )   $ 99     $ 39     $ (401 )   $ (1,085 )
 
                              
Fixed Charges
                                        
Interest and related charges on debt
   $ 49     $ 190     $ 158     $ 109     $ 97  
Portion of rental expense representative of the interest factor
     6       23       27       31       29  
 
                              
Fixed charges
   $ 55     $ 213     $ 185     $ 140     $ 126  
 
                              
Ratios
                                        
Ratio of earnings to fixed charges*
     N/A       N/A       N/A       N/A       N/A  
 
*   For the three months ended March 31, 2007 and years ended December 31, 2006, 2005, 2004, and 2003, fixed charges exceed earnings by $137 million, $115 million, $146 million, $541 million, and $1,211 million, respectively, resulting in a ratio of less than one.