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EXHIBIT 12.1
Visteon Corporation and Subsidiaries
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
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First Nine For the Year Ended December 31,
Months ----------------------------------------------------------------
2000 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C>
Earnings
Income before income taxes $ 585 $ 1,172 $ 1,116 $ 815 $ 604 $ 370
Equity in net (income)/loss of affiliates
plus dividends from affiliates (8) (23) (9) (13) (31) (17)
Adjusted fixed charges a/ 158 172 104 98 90 105
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Earnings $ 735 $ 1,321 $ 1,211 $ 900 $ 663 $ 458
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Fixed Changes
Interest expense b/ $ 133 $ 149 $ 86 $ 94 $ 79 $ 79
Interest portion of rental expense c/ 28 24 17 12 7 33
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Fixed charges $ 161 $ 173 $ 103 $ 106 $ 86 $ 112
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Ratios
Ratios of earnings to fixed charges 4.6 7.6 11.8 8.5 7.7 4.1
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a/ Fixed charges, as shown above, 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.
