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, 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Income/(loss) before income taxes, minority interest, discontinued | $ | (16 | ) | $ | (285 | ) | $ | (89 | ) | $ | (165 | ) | $ | (540 | ) | |||||
operations and change in accounting and extraordinary item | — | — | — | — | ||||||||||||||||
Earnings of non-consolidated affiliates | (30 | ) | (47 | ) | (33 | ) | (25 | ) | (45 | ) | ||||||||||
Cash dividends received from non-consolidated affiliates | — | 71 | 24 | 48 | 42 | |||||||||||||||
Fixed charges | 123 | 249 | 212 | 185 | 140 | |||||||||||||||
Amortization of capitalized interest, net of interest capitalized | 3 | 6 | 6 | 4 | 1 | |||||||||||||||
Earnings | $ | 80 | $ | (6 | ) | $ | 120 | $ | 47 | $ | (402 | ) | ||||||||
Fixed Charges | ||||||||||||||||||||
Interest and related charges on debt | $ | 112 | $ | 226 | $ | 190 | $ | 158 | $ | 109 | ||||||||||
Portion of rental expense representative of the interest factor | 15 | 27 | 23 | 27 | 31 | |||||||||||||||
Fixed charges | $ | 127 | $ | 253 | $ | 213 | $ | 185 | $ | 140 | ||||||||||
Ratios | ||||||||||||||||||||
Ratio of earnings to fixed charges * | N/A | N/A | N/A | N/A | N/A |
* | For the six months ended June 30, 2008 and year ended December 31, 2007, 2006, 2005 and 2004 fixed charges exceed earnings by $47 million, $259 million, $93 million, $138 million and $542 million, respectively, resulting in a ratio of less than one. |