Exhibit 12.1
Autoliv, Inc.
Computation of Ratio of Earnings to Fixed Charges
| Year ended December 31, | ||||||||||||||||||||||||
| (Dollars in Millions) | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expense | $ | 68.2 | $ | 41.7 | $ | 32.9 | $ | 63.4 | $ | 65.1 | $ | 62.4 | ||||||||||||
Interest portion of rental expense (1) | 12.0 | 11.7 | 15.1 | 14.7 | 13.5 | 15.5 | ||||||||||||||||||
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Total | $ | 80.2 | $ | 53.4 | $ | 48.0 | $ | 78.1 | $ | 78.6 | $ | 77.9 | ||||||||||||
Earnings | ||||||||||||||||||||||||
Income before income taxes | $ | 828.3 | $ | 668.6 | $ | 734.0 | $ | 667.0 | $ | 675.7 | $ | 803.8 | ||||||||||||
Earnings in Affiliates - | (6.8 | ) | (8.1 | ) | (7.3 | ) | (6.9 | ) | (4.7 | ) | (2.6 | ) | ||||||||||||
Fixed charges + | 80.2 | 53.4 | 48.0 | 78.1 | 78.6 | 77.9 | ||||||||||||||||||
Cash from Affiliates + | 6.4 | 4.8 | 4.6 | 5.9 | 4.3 | 3.6 | ||||||||||||||||||
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Total | $ | 908.1 | $ | 718.7 | $ | 779.3 | $ | 744.1 | $ | 753.9 | $ | 882.7 | ||||||||||||
Ratios of Earnings to Fixed Charges | 11x | 13x | 16x | 10x | 10x | 11x | ||||||||||||||||||
| (1) | One-third of all rental expense is deemed to be interest. |
For the purpose of computing these ratios, (i) “earnings” consists of the sum ofpre-tax income from continuing operations before adjustment fornon-controlling interests in our consolidated subsidiaries or income or loss from equity investees; fixed charges; amortization of capitalized interest; and distributed income of equity investees; and (ii) “fixed charges” consists of the sum of interest expense (which includes amortization of premiums, discounts, and capitalized expenses related to debt issue costs and loss on extinguishment of debt, when applicable); capitalized interest; andone-third of rental expense which we believe to be a reasonable estimate of an interest factor in our leases.