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Exhibit 12
VISTEON CORPORATION AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
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(dollar amounts in millions)
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<CAPTION>
First For the Year Ended December 31,
Quarter ------------------------------------------------
2000 1999 1998 1997 1996 1995
------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Earnings
--------
Income before income taxes ...................... $ 237 $ 1,172 $ 1,116 $ 815 $ 604 $ 370
Equity in net (income) loss of affiliates
plus dividends from affiliates ................. (4) (23) (9) (13) (31) (17)
Adjusted fixed charges a/........................ 57 172 104 98 90 105
------- -------- -------- -------- -------- --------
Earnings ....................................... $ 290 $ 1,321 $ 1,211 $ 900 $ 663 $ 458
======= ======== ======== ======== ======== ========
Fixed Charges
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Interest expense b/.............................. $ 50 $ 149 $ 86 $ 94 $ 79 $ 79
Interest portion of rental expense c/............ 8 24 17 12 7 33
------- -------- -------- -------- -------- --------
Fixed charges .................................. $ 58 $ 173 $ 103 $ 106 $ 86 112
======= ======== ======== ======== ======== ========
Ratios
------
Ratios of earnings to fixed charges ............ 5.0 7.6 11.8 8.5 7.7 4.1
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a/ Fixed charges, as shown below, adjusted to exclude the amount of interest
capitalized during the period.
b/ Includes interest, whether expensed or capitalized, and amortization of debt
expense and discount or premium relating to any indebtedness.
c/ One-third of all rental expense is deemed to be interest.
