Exhibit 12
HAYES LEMMERZ INTERNATIONAL, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
Year | Year | Year | Year | Year | ||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||
January 31, | January 31, | January 31, | January 31, | January 31, | ||||||||||||||||||
1996 | 1997 | 1998 | 1999 | 2000 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Earnings (loss) before taxes on income and minority interest | $ | 46.2 | $ | (102.0 | ) | $ | 55.1 | $ | 93.1 | $ | 119.4 | |||||||||||
Interest expense: | ||||||||||||||||||||||
Bank borrowings and long-term debt | 15.0 | 48.5 | 90.4 | 94.9 | 153.3 | |||||||||||||||||
Rentals(1) | 2.6 | 4.6 | 5.7 | 7.2 | 8.7 | |||||||||||||||||
Earnings (loss) before interest expense, taxes on income and minority interest | $ | 63.8 | $ | (48.9 | ) | $ | 151.2 | $ | 195.2 | $ | 281.4 | |||||||||||
Fixed charges: | ||||||||||||||||||||||
Bank borrowings and long-term debt | $ | 15.0 | $ | 48.5 | $ | 90.4 | $ | 94.9 | $ | 153.3 | ||||||||||||
Rentals(1) | 2.6 | 4.6 | 5.7 | 7.2 | 8.7 | |||||||||||||||||
Total fixed charges | $ | 17.6 | $ | 53.1 | $ | 96.1 | $ | 102.1 | $ | 162.0 | ||||||||||||
Ratio of earnings (loss) to fixed charges | 3.63 | (0.92 | ) | 1.57 | 1.91 | 1.74 | ||||||||||||||||
Coverage deficiency on fixed charges | N/A | 102.0 | N/A | N/A | N/A | |||||||||||||||||
(1) | Estimated interest component of rent expense. |