EX-12 3 c69476ex12.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)
THREE MONTHS ENDED MARCH 31, -------------- 2002 2001 ---- ---- Net income (loss)........................................... $ (2) $ (31) Add: Interest expense.......................................... 36 47 Portion of rentals representative of the interest factor................................................. 3 3 Preferred stock dividend requirements of majority-owned subsidiaries........................................... -- -- Income tax benefit and other taxes on income.............. (8) (10) Minority Interest......................................... 1 -- Amortization of interest capitalized...................... -- -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... (1) -- ----- ----- Earnings as defined.................................... $ 29 $ 9 ===== ===== Interest expense............................................ $ 36 $ 47 Interest capitalized........................................ 1 1 Portion of rentals representative of the interest factor.... 3 3 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis........................... -- -- ----- ----- Fixed charges as defined............................... $ 40 $ 51 ===== ===== Ratio of earnings to fixed charges.......................... 0.73 0.18 ===== =====
NOTE: Earnings were inadequate to cover fixed charges by $11 million for the three months ended March 31, 2002 and by $42 million for the three months ended March 31, 2001.