Exhibit 12.1
China Automotive Systems, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
| Fiscal Year Ended December 31, | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income before income taxes and equity in earnings of affiliated companies | $ | 46,081 | $ | 38,241 | $ | 30,069 | $ | 52,099 | $ | 71,416 | ||||||||||
| Add (deduct): | ||||||||||||||||||||
| Fixed charges | 2,549 | 2,298 | 3,464 | 5,393 | 3,970 | |||||||||||||||
| Earnings available for fixed charges (a) | $ | 48,630 | $ | 40,539 | $ | 33,533 | $ | 57,492 | $ | 75,386 | ||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest expense | $ | 1,816 | $ | 1,652 | $ | 3,144 | $ | 4,967 | $ | 3,605 | ||||||||||
| One-third of rental expense (1) | 733 | 646 | 320 | 426 | 365 | |||||||||||||||
| Total fixed charges (b) | $ | 2,549 | $ | 2,298 | $ | 3,464 | $ | 5,393 | $ | 3,970 | ||||||||||
| Ratio of earnings to fixed charges (a/b) | 19.08x | 17.64x | 9.68x | 10.66x | 18.99x | |||||||||||||||
| (1) | Considered to be representative of interest factor in rent expense. |
