EXHIBIT 12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
Year Ended December 31, | |||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||
(Unaudited) | |||||||||||||||||||||
(in millions, except for ratios) | |||||||||||||||||||||
Fixed Charges: | |||||||||||||||||||||
Interest expense, including amortization of debt issuance costs | $ | 84.5 | $ | 70.4 | $ | 61.6 | $ | 39.0 | $ | 27.9 | |||||||||||
Other fixed charges (b) | 10.9 | 13.3 | 13.0 | 16.1 | 16.0 | ||||||||||||||||
Total fixed charges as defined | $ | 95.4 | $ | 83.7 | $ | 74.6 | $ | 55.1 | $ | 43.9 | |||||||||||
Earnings (Loss): | |||||||||||||||||||||
Income (loss) from continuing operations before income tax expense (benefit) | $ | (297.1 | ) | $ | (1,121.3 | ) | $ | 17.6 | $ | (356.3 | ) | $ | 80.3 | ||||||||
Total fixed charges as defined | 95.4 | 83.7 | 74.6 | 55.1 | 43.9 | ||||||||||||||||
Other adjustments (c) | (7.4 | ) | (5.9 | ) | (6.4 | ) | (7.2 | ) | (5.7 | ) | |||||||||||
Total earnings (loss) as defined | $ | (209.1 | ) | $ | (1,043.5 | ) | $ | 85.8 | $ | (308.4 | ) | $ | 118.5 | ||||||||
Ratio of earnings (loss) to fixed charges | (a) | (a) | 1.15 | (a) | 2.70 | ||||||||||||||||
(a) | Earnings/(Loss) for the year ended December 31, 2009, 2008 and 2006 were inadequate to cover fixed charges by $304.5 million, $1,127.2 million and $363.5 million, respectively. | ||||||||||||||||||||
(b) | Includes capitalized interest and estimated interest portion of rents | ||||||||||||||||||||
(c) | Includes fixed charges not deducted in the determination of income (loss) from continuing operations before income tax expense, the amortization of capitalized interest and earnings in equity of affiliates. | ||||||||||||||||||||