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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
EXHIBIT 12.01 -- COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
YEAR ENDED DECEMBER 31,
2002 2001 2000 1999 1998
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(In millions, except for ratios)
FIXED CHARGES:
Interest expense, including amortization of debt issuance costs $ 51.0 $ 60.2 $ 65.7 $ 61.7 $ 44.8
Estimated interest portion of rents 15.8 16.6 15.0 12.0 4.7
Capitalized interest 8.2 13.2 11.9 8.5 3.8
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Total fixed charges as defined 75.0 90.0 92.6 82.2 53.3
EARNINGS:
Income from continuing operations before income tax expense 273.8 180.9 203.4 183.4 5.6
Total fixed charges as defined 75.0 90.0 92.6 82.2 53.3
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (8.2) (13.2) (11.9) (8.5) (3.8)
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Total earnings as defined $ 340.6 $ 257.7 $ 284.1 $ 257.1 $ 55.1
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RATIO OF EARNINGS TO FIXED CHARGES 4.54 2.86 3.07 3.13 1.03
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SIX MONTHS ENDED JUNE 30, 2003
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FIXED CHARGES:
Interest expense, including amortization of debt issuance costs $ 24.9
Estimated interest portion of rents 6.2
Capitalized interest 2.6
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Total fixed charges as defined $ 33.7
EARNINGS:
Income from continuing operations before income tax expense $ 161.5
Total fixed charges as defined 33.7
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (2.6)
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Total earnings as defined $ 192.6
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RATIO OF EARNINGS TO FIXED CHARGES 5.72
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