EX-12 3 c87293exv12.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)
SIX MONTHS ENDED JUNE 30, -------------- 2004 2003 ----- ----- Net income.................................................. $ 28 $ 25 Add: Interest expense.......................................... 69 69 Amortization of interest capitalized...................... 1 1 Portion of rentals representative of the interest factor................................................. 5 5 Income tax benefit and other taxes on income.............. 9 1 Minority interest......................................... 3 3 Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... -- 2 ----- ----- Earnings as defined.................................... $ 115 $ 106 ===== ===== Interest expense............................................ $ 69 $ 69 Interest capitalized........................................ 1 2 Portion of rentals representative of the interest factor.... 5 5 ----- ----- Fixed charges as defined............................... $ 75 $ 76 ===== ===== Ratio of earnings to fixed charges.......................... 1.53 1.39 ===== =====