EX-12 3 c64103ex12.txt COMPUTATION OF RATIO OF 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, ----------------- 2001 2000 ---- ---- Net income (loss)........................................... $(29) $ 16 Add: Interest expense.......................................... 90 93 Portion of rentals representative of the interest factor................................................. 5 7 Preferred stock dividend requirements of majority-owned subsidiaries........................................... -- -- Income tax benefit and other taxes on income.............. (9) 4 Amortization of interest capitalized...................... 2 -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... -- -- ---- ---- Earnings as defined.................................... $ 59 $120 ==== ==== Interest expense............................................ $ 90 $ 93 Interest capitalized........................................ 2 3 Portion of rentals representative of the interest factor.... 5 7 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis........................... -- -- ---- ---- Fixed charges as defined............................... $ 97 $103 ==== ==== Ratio of earnings to fixed charges.......................... .61 1.17 ==== ====
NOTE: Earnings were inadequate to cover fixed charges by $38 million for the six months ended June 30, 2001.