EX-12 3 c65892ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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)
NINE MONTHS ENDED SEPTEMBER 30, -------------- 2001 2000 ---- ---- Net income (loss)........................................... $(31) $ 22 Add: Interest expense.......................................... 132 139 Portion of rentals representative of the interest factor................................................. 8 10 Preferred stock dividend requirements of majority-owned subsidiaries........................................... -- -- Income tax benefit and other taxes on income.............. (12) (1) Amortization of interest capitalized...................... -- -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... -- -- ---- ---- Earnings as defined.................................... $ 97 $170 ==== ==== Interest expense............................................ $132 $139 Interest capitalized........................................ 2 4 Portion of rentals representative of the interest factor.... 8 10 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis........................... -- -- ---- ---- Fixed charges as defined............................... $142 $153 ==== ==== Ratio of earnings to fixed charges.......................... .68 1.11 ==== ====
NOTE: Earnings were inadequate to cover fixed charges by $45 million for the nine months ended September 30, 2001.