EX-12 11 ex12.txt COMPUTATION OF RATIO TO EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 TENNECO AUTOMOTIVE INC. AND CONSOLIDATED SUBSIDIARIES COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS) (UNAUDITED)
SIX MONTHS ENDED JUNE 30, ------------- 2000 1999 ----- ----- Income from continuing operations........................... $ 16 $ 53 Add: Interest expense.......................................... 93 42 Portion of rentals representative of the interest factor................................................. 7 5 Preferred stock dividend requirements of majority-owned subsidiaries........................................... -- 13 Income tax expense (benefit) and other taxes on income.... 4 44 Amortization of interest capitalized...................... -- -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... -- -- ---- ----- Earnings as defined.................................. $120 $ 157 ==== ===== Interest expense............................................ $ 93 $ 42 Interest capitalized........................................ 3 -- Portion of rentals representative of the interest factor.... 7 5 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis........................... -- 22 ---- ----- Fixed charges as defined............................. $103 $ 69 ==== ===== Ratio of earnings to fixed charges.......................... 1.17 2.28 ==== =====