Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
Year Ended December 31, | ||||||||||||||||||||||||
First Nine Months of 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
(In millions, except for ratios) | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, including amortization of debt issuance costs | $ | 60.4 | $ | 70.4 | $ | 61.6 | $ | 39.0 | $ | 27.9 | $ | 25.8 | ||||||||||||
Estimated interest portion of rents | 3.7 | 7.4 | 6.6 | 8.9 | 10.3 | 11.7 | ||||||||||||||||||
Capitalized interest | 5.6 | 5.9 | 6.4 | 7.2 | 5.7 | 5.8 | ||||||||||||||||||
Total fixed charges as defined | $ | 69.7 | $ | 83.7 | $ | 74.6 | $ | 55.1 | $ | 43.9 | $ | 43.3 | ||||||||||||
Earnings (Loss): | ||||||||||||||||||||||||
Income (loss) from continuing operations before income tax expense | $ | (294.0 | ) | $ | (1,121.3 | ) | $ | 17.6 | $ | (356.3 | ) | $ | 80.3 | $ | 239.7 | |||||||||
Total fixed charges as defined | 69.7 | 83.7 | 74.6 | 55.1 | 43.9 | 43.3 | ||||||||||||||||||
Fixed charges not deducted in the determination of income (loss) from continuing operations before income tax expense | (5.6 | ) | (5.9 | ) | (6.4 | ) | (7.2 | ) | (5.7 | ) | (5.8 | ) | ||||||||||||
Total earnings (loss) as defined | $ | (229.9 | ) | $ | (1,043.5 | ) | $ | 85.8 | $ | (308.4 | ) | $ | 118.5 | $ | 277.2 | |||||||||
Ratio of earnings (loss) to fixed charges | (a) | (a) | 1.15 | (a) | 2.70 | 6.40 | ||||||||||||||||||
(a) | Earnings/(Loss) for the nine months ended September 30, 2009 and the year ended December 31, 2008 and 2006 were inadequate to cover fixed charges by $299.6 million, $1,127.2 million and $363.5 million, respectively. |