EX-12 5 k63242ex12.htm COMPUTATION OF RATIOS ex12
 

Exhibit 12

HAYES LEMMERZ INTERNATIONAL, INC.

RATIOS OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Millions of dollars except ratios)

                                           
Restated

Year Year Year Year Year
Ended Ended Ended Ended Ended
January 31, January 31, January 31, January 31, January 31,
1997 1998 1999 2000 2001





Earnings:
   Earnings (loss) before taxes on
      income and minority interest
$ (102.0 ) $ 55.1 $ 93.1 $ 88.9 $ (173.9 )
Interest expense:
   Bank borrowings and long-term debt 48.5 90.4 94.9 153.3 $ 163.5
Rentals(1) 4.6 5.7 7.2 8.7 10.3





Earnings (loss) before interest expense,
   taxes on income and minority interest
$ (48.9 ) $ 151.2 $ 195.2 $ 250.9 $ (0.1 )





Fixed charges:
Bank borrowings and long-term debt $ 48.5 $ 90.4 $ 94.9 $ 153.3 $ 163.5
Rentals(1) 4.6 5.7 7.2 8.7 10.3





Total fixed charges $ 53.1 $ 96.1 $ 102.1 $ 162.0 $ 173.8





Ratio of earnings (loss) to fixed charges N/A (2) 1.57 1.91 1.55 N/A (2)





Coverage deficiency on fixed charges 102.0 N/A N/A N/A 173.9





(1)   Estimated interest component of rent expense.
(2)   Earnings are inadequate to cover fixed charges.