American Axle & Manufacturing (AXL) 10-Q 2001 Q1 Quarterly report

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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.Exhibit 12.01 — Computation of Ratio of Earnings to Fixed Charges

					Year Ended December 31,
		2000			1999			1998			1997			1996
		(In millions, except for ratios)
Fixed charges:
Interest expense, including amortization of debt issuance costs		$	65.7		$	61.7		$	44.8		$	9.0		$	0.3
Estimated interest portion of rents			15.0			12.0			4.7			3.2			1.5
Capitalized interest			11.9			8.5			3.8			0.2			—
Preferred stock dividend			—			—			—			12.0			17.9
Gross-up of preferred stock dividend as if it were pre-tax			—			—			—			6.8			10.1
Total fixed charges as defined			92.6			82.2			53.3			31.2			29.8
Earnings:
Income from continuing operations before income tax expense			203.4			183.4			5.6			94.2			98.3
Total fixed charges as defined			92.6			82.2			53.2			31.2			29.8
Fixed charges not deducted in the determination of income from
	continuing operations before income tax expense		(11.9	)		(8.5	)		(3.8	)		(19.0	)		(28.0	)
Total earnings as defined		$	284.1		$	257.1		$	55.0		$	106.4		$	100.1
Ratio of earnings to fixed charges			3.07			3.13			1.03			3.41			3.36

Three Months Ended March 31, 2001:

Fixed charges:
Interest expense, including amortization of debt issuance costs		$	16.0
Estimated interest portion of rents			3.9
Capitalized interest			3.3
Total fixed charges as defined			23.2
Earnings:
Income from continuing operations before income tax expense			37.4
Total fixed charges as defined			23.2
Fixed charges not deducted in the determination of income from
	continuing operations before income tax expense		(3.3	)
Total earnings as defined		$	57.3
Ratio of earnings to fixed charges			2.47