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DaimlerChrysler AG and its Consolidated Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(in millions of €, except ratios)
| Year Ended December 31, | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2000 | 2001 | 2002 | 2003 | 2004 | |||||||
EARNINGS | ||||||||||||
Income/(loss) from continuing operations before income taxes, minority interests, extraordinary items and cumulative effects of changes in accounting principles | 4,280 | (1,654 | ) | 5,925 | 596 | 3,535 | ||||||
Add: | ||||||||||||
Fixed charges | 6,078 | 5,945 | 4,102 | 3,383 | 3,199 | |||||||
Amortization of previously capitalized interest | 131 | 141 | 134 | 119 | 107 | |||||||
Dividends received from equity investees | 0 | 133 | 133 | 80 | 107 | |||||||
Deduct: | ||||||||||||
Capitalized interest | (181 | ) | (275 | ) | (147 | ) | (100 | ) | (70 | ) | ||
(Income)/loss from equity investees | 244 | (99 | ) | 134 | 538 | 937 | ||||||
Earnings available for fixed charges | 10,552 | 4,191 | 10,281 | 4,616 | 7,815 | |||||||
FIXED CHARGES | ||||||||||||
Interest expense | 5,603 | 5,397 | 3,709 | 3,034 | 2,828 | |||||||
Capitalized interest | 181 | 275 | 147 | 100 | 70 | |||||||
Interest portion of rent expense1 | 294 | 273 | 246 | 249 | 301 | |||||||
Total fixed charges | 6,078 | 5,945 | 4,102 | 3,383 | 3,199 | |||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.74 | 0.70 | 2 | 2.51 | 1.36 | 2.44 | ||||||
- 1)
- One-third of all rental expense is deemed to be interest.
- 2)
- For the year ended December 31, 2001, earnings were insufficient to cover fixed charges by €1.754 million.