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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
Exhibit 12.01 - Computation of Ratio of Earnings to Fixed Charges
YEAR ENDED DECEMBER 31,
2001 2000 1999 1998 1997
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(In millions, except for ratios)
FIXED CHARGES:
Interest expense, including amortization of debt issuance costs $ 60.2 $ 65.7 $ 61.7 $ 44.8 $ 9.0
Estimated interest portion of rents 16.6 15.0 12.0 4.7 3.2
Capitalized interest 13.2 11.9 8.5 3.8 0.2
Preferred stock dividend - - - - 12.0
Gross-up of preferred stock dividend as if it were pre-tax - - - - 6.8
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Total fixed charges as defined 90.0 92.6 82.2 53.3 31.2
EARNINGS:
Income from continuing operations before income tax expense 180.9 203.4 183.4 5.6 94.2
Total fixed charges as defined 90.0 92.6 82.2 53.3 31.2
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (13.2) (11.9) (8.5) (3.8) (19.0)
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Total earnings as defined $ 257.7 $ 284.1 $ 257.1 $ 55.1 $ 106.4
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RATIO OF EARNINGS TO FIXED CHARGES 2.86 3.07 3.13 1.03 3.41
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NINE MONTHS ENDED SEPTEMBER 30, 2002:
FIXED CHARGES:
Interest expense, including amortization of debt issuance costs $ 37.3
Estimated interest portion of rents 11.8
Capitalized interest 7.5
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Total fixed charges as defined 56.6
EARNINGS:
Income from continuing operations before income tax expense 193.6
Total fixed charges as defined 56.6
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (7.5)
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Total earnings as defined $ 242.7
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RATIO OF EARNINGS TO FIXED CHARGES 4.29
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