EX-12 2 c85045exv12.txt COMPUTATION OF RATIO OF FIXED EARNINGS 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, ----------------- 2004 2003 ----- ----- Net income (loss)........................................... $ (2) $ 1 Add: Interest expense.......................................... 35 31 Portion of rentals representative of the interest factor................................................. 3 3 Income tax benefit and other taxes on income.............. (1) (2) Minority Interest......................................... 1 1 Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... -- 2 ----- ----- Earnings as defined.................................... $ 36 $ 36 ===== ===== Interest expense............................................ $ 35 $ 31 Interest capitalized........................................ -- 1 Portion of rentals representative of the interest factor.... 3 3 ----- ----- Fixed charges as defined............................... $ 38 $ 35 ===== ===== Ratio of earnings to fixed charges.......................... 0.95 1.03 ===== =====
NOTE: Earnings were inadequate to cover fixed charges by approximately $2 million for the three months ended March 31, 2004.