EX-12.1 2 c02112exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
COMMERCIAL VEHICLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands)
                                         
    Year Ended December 31,        
    2001     2002     2003     2004     2005  
EARNINGS:
                                       
Pre-tax income (loss) from continuing operations
  $ 3,057     $ 11,385     $ 9,231     $ 23,930     $ 78,549  
Fixed charges
    15,795       13,711       13,786       9,964       16,403  
Capitalized interest
    0       0       0       0       0  
 
                             
Earnings available for fixed charges
  $ 18,852     $ 25,096     $ 23,018     $ 33,894     $ 94,952  
 
                                       
FIXED CHARGES:
                                       
Interest expense (including debt issuance costs amortized to interest expense)
  $ 14,885     $ 12,940     $ 12,768     $ 8,849     $ 14,720  
Capitalized interest
    0       0       0       0       0  
Interest component of rent expense(1)
    910       771       1,018       1,115       1,684  
 
                             
Total fixed charges
  $ 15,795     $ 13,711     $ 13,786     $ 9,964     $ 16,404  
 
                                       
Ratio of earnings to fixed charges
    1.19       1.83       1.67       3.40       5.79  
 
(1)   For purposes of calculating the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes and cumulative effect of change in accounting principles plus fixed charges. Fixed charges include interest expense (including amortization of deferred financing costs) and an estimate of operating rental expense, approximately 20%, which management believes is representative of the interest component.