EXHIBIT 12.1
Visteon Corporation and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
Six Months | ||||||||||||||||||||
Ended | For the Years Ended December 31, | |||||||||||||||||||
June 30, 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Income/(loss) before income taxes, minority interest, discontinued operations and change in accounting | $ | (131 | ) | $ | (111 | ) | $ | (173 | ) | $ | (539 | ) | $ | (1,194 | ) | |||||
Earnings of non-consolidated affiliates | (23 | ) | (33 | ) | (25 | ) | (45 | ) | (55 | ) | ||||||||||
Cash dividends received from non-consolidated affiliates | 38 | 24 | 48 | 42 | 35 | |||||||||||||||
Fixed charges | 116 | 213 | 185 | 140 | 126 | |||||||||||||||
Amortization of capitalized interest, net of interest capitalized | 3 | 6 | 4 | 1 | 3 | |||||||||||||||
Earnings | $ | 3 | $ | 99 | $ | 39 | $ | (401 | ) | $ | (1,085 | ) | ||||||||
Fixed Charges | ||||||||||||||||||||
Interest and related charges on debt | $ | 104 | $ | 190 | $ | 158 | $ | 109 | $ | 97 | ||||||||||
Portion of rental expense representative of the interest factor | 12 | 23 | 27 | 31 | 29 | |||||||||||||||
Fixed charges | $ | 116 | $ | 213 | $ | 185 | $ | 140 | $ | 126 | ||||||||||
Ratios | ||||||||||||||||||||
Ratio of earnings to fixed charges* | N/A | N/A | N/A | N/A | N/A |
* | For the three months ended June 30, 2007 and years ended December 31, 2006, 2005, 2004, and 2003, fixed charges exceed earnings by $113 million, $114 million, $146 million, $541 million, and $1,211 million, respectively, resulting in a ratio of less than one. |