EX-12.1 9 c49968exv12w1.htm EX-12.1 EX-12.1
EXHIBIT 12.1
COMMERCIAL VEHICLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands)
                                         
    Year Ended December 31,  
    2008     2007     2006     2005     2004  
EARNINGS
                                        
Pre-tax income from operations
   $ (13,197 )   $ (4,836 )   $ 85,795     $ 78,549     $ 23,930  
Fixed charges
     18,777       16,650       16,880       16,403       9,964  
Capitalized interest
     —       —       —       —       —  
 
                              
Earnings available for fixed charges
   $ 5,580     $ 11,814     $ 102,675     $ 94,952     $ 33,894  
 
                                        
FIXED CHARGES:
                                        
Interest expense (including debt issuance costs amortized to interest expense)
   $ 15,389     $ 14,296     $ 15,147     $ 14,720     $ 8,849  
Capitalized interest
     —       —       —       —       —  
Interest component of rent expense1
     3,388       2,354       1,733       1,684       1,115  
 
                              
Total fixed charges
   $ 18,777     $ 16,650     $ 16,880     $ 16,404     $ 9,964  
 
                                        
Ratio of earnings to fixed charges
     0.30       0.71       6.08       5.79       3.40  
 
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.