EX-12 7 c83005exv12.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
YEARS ENDED DECEMBER 31, --------------------------------- 2003 2002 2001 2000 1999 ---- ---- ----- ---- ---- (DOLLARS IN MILLIONS) Income (loss) from continuing operations before cumulative effect of change in accounting principle.... $ 27 $ 31 $(130) $(42) $(81) Add: Interest expense....................................... 149 141 170 188 134 Portion of rentals representative of the interest factor.............................................. 11 11 10 13 11 Preferred stock dividend requirements of majority-owned subsidiaries........................................ -- -- -- -- 22 Income tax expense (benefit) and other taxes on income.............................................. (6) (7) 51 (28) 72 Minority interest...................................... 6 4 -- -- -- Amortization of interest capitalized................... 1 1 1 -- -- Undistributed losses of affiliated companies in which less than a 50% voting interest is owned............ 2 2 1 -- -- ---- ---- ----- ---- ---- Earnings as defined................................. $190 $183 $ 103 $131 $158 ==== ==== ===== ==== ==== Interest expense......................................... $149 $141 $ 170 $188 $134 Interest capitalized..................................... 4 4 3 6 -- Portion of rentals representative of the interest factor................................................. 11 11 10 13 11 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis........................ -- -- -- -- 35 ---- ---- ----- ---- ---- Fixed charges as defined............................ $164 $156 $ 183 $207 $180 ==== ==== ===== ==== ==== Ratio of earnings to fixed charges....................... 1.16 1.17 .56 .63 .88 ==== ==== ===== ==== ====