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Previous: AMERICAN AXLE & MANUFACTURING HOLDINGS INC, 10-Q, 2000-08-11 |
Next: AMERICAN AXLE & MANUFACTURING HOLDINGS INC, 10-Q, EX-27, 2000-08-11 |
<PAGE> 1
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
Exhibit 12.01 - Computation of Ratio of Earnings to Fixed Charges
<TABLE>
<CAPTION>
(in millions, except for ratios)
1999 1998 1997 1996 1995
----------------------------------------------------
<S> <C> <C> <C> <C> <C>
YEAR ENDED DECEMBER 31:
Fixed charges:
Interest expense, including amortization of debt issuance costs $61.7 $44.8 $ 9.0 $ 0.3 $ 1.6
Estimated interest portion of rents 12.0 4.7 3.2 1.5 0.1
Capitalized interest 8.5 3.8 0.2 - -
Preferred stock dividend - - 12.0 17.9 13.6
Gross-up of preferred stock dividend as if it were pre-tax - - 6.8 10.1 7.7
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Total fixed charges as defined 82.2 53.3 31.2 29.8 23.0
Earnings:
Income from continuing operations before income tax expense 183.4 5.6 94.2 98.3 118.0
Total fixed charges as defined 82.2 53.2 31.2 29.8 23.0
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (8.5) (3.8) (19.0) (28.0) (21.3)
----------------------------------------------------
Total earnings as defined $257.1 $55.0 $106.4 $100.1 $119.7
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Ratio of earnings to fixed charges 3.13 1.03 3.41 3.36 5.21
====================================================
SIX MONTHS ENDED JUNE 30, 2000:
Fixed charges:
Interest expense, including amortization of debt issuance costs $31.9
Estimated interest portion of rents 7.3
Capitalized interest 5.9
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Total fixed charges as defined 45.1
Earnings:
Income from continuing operations before income tax expense 127.1
Total fixed charges as defined 45.1
Fixed charges not deducted in the determination of income from
continuing operations before income tax expense (5.9)
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Total earnings as defined 166.3
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Ratio of earnings to fixed charges 3.69
==========
</TABLE>
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