Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
| Year ended December 31, | ||||||||||||||||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | First Three Months of 2014 | |||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||
| (In millions, except for ratios) | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, including amortization of debt issuance costs | $ | 84.5 | $ | 89.0 | $ | 83.9 | $ | 101.6 | $ | 115.9 | $ | 25.0 | ||||||||||||
Other fixed charges (b) | 10.9 | 6.3 | 10.6 | 11.0 | 11.9 | 3.1 | ||||||||||||||||||
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Total fixed charges as defined | $ | 95.4 | $ | 95.3 | $ | 94.5 | $ | 112.6 | $ | 127.8 | $ | 28.1 | ||||||||||||
Earnings (Loss): | ||||||||||||||||||||||||
Income (loss) from continuing operations before income tax expense (benefit) | $ | (297.1 | ) | $ | 118.8 | $ | 138.1 | $ | 31.5 | $ | 86.3 | $ | 40.6 | |||||||||||
Total fixed charges as defined | 95.4 | 95.3 | 94.5 | 112.6 | 127.8 | 28.1 | ||||||||||||||||||
Other adjustments (c) | (7.4 | ) | (1.7 | ) | (6.4 | ) | (7.1 | ) | (5.5 | ) | (1.2 | ) | ||||||||||||
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Total earnings (loss) as defined | $ | (209.1 | ) | $ | 212.4 | $ | 226.2 | $ | 137.0 | $ | 208.6 | $ | 67.5 | |||||||||||
Ratio of earnings (loss) to fixed charges | (a) | 2.23 | 2.39 | 1.22 | 1.63 | 2.40 | ||||||||||||||||||
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| (a) | Earnings/(Loss) for the year ended December 31, 2009 were inadequate to cover fixed charges by $304.5 million. |
| (b) | Includes capitalized interest and estimated interest portion of rents |
| (c) | Includes fixed charges not deducted in the determination of income (loss) from continuing operations before income tax expense, the amortization of capitalized interest and earnings in equity of affiliates. |
