EXHIBIT 12.1
Visteon Corporation and Subsidiaries
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
For the Years Ended December 31,
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2005 2004 2003 2002 2001
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Earnings
Income/(loss) before income taxes, minority interest and
change in accounting $(173) $(539) $(1,194) $(160) $(164)
Earnings of non-consolidated affiliates (25) (45) (55) (44) (24)
Cash dividends received from non-consolidated affiliates 48 42 35 16 12
Fixed charges 185 140 126 139 174
Capitalized interest, net of amortization 4 1 3 1 (2)
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Earnings $ 39 $(401) $(1,085) $ (48) $ (4)
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Fixed Charges
Interest and related charges on debt $ 158 $ 109 $ 97 $ 109 $ 139
Portion of rental expense representative of the
interest factor 27 31 29 30 35
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Fixed charges $ 185 $ 140 $ 126 $ 139 $ 174
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Ratios
Ratio of earnings to fixed charges* N/A N/A N/A N/A N/A
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* For the years ended December 31, 2005, 2004, 2003, 2002 and 2001, fixed
charges exceed earnings by $146 million, $541 million, $1,211 million, $187
million and $178 million, respectively, resulting in a ratio of less than
one.