EX-12 2 c95058a1exv12.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
AS ADJUSTED --------------------------------- YEARS ENDED DECEMBER 31, --------------------------------- 2004 2003 2002 2001 2000 ---- ---- ---- ----- ---- (DOLLARS IN MILLIONS) Income (loss) before cumulative effect of change in accounting principle................................... $ 15 $ 26 $ 31 $(131) $(41) Add: Interest expense....................................... 179 149 141 170 188 Portion of rentals representative of the interest factor.............................................. 11 11 11 10 13 Income tax expense (benefit) and other taxes on income.............................................. (24) (7) (7) 50 (27) Minority interest...................................... 4 6 4 -- -- Amortization of interest capitalized................... 1 1 1 1 -- Undistributed losses of affiliated companies in which in less than a 50% voting interest is owned......... -- 2 2 1 -- ---- ---- ---- ----- ---- Earnings as defined................................. $186 $188 $183 $ 101 $133 ==== ==== ==== ===== ==== Interest expense......................................... $179 $149 $141 $ 170 $188 Interest capitalized..................................... 2 4 4 3 6 Portion of rentals representative of the interest factor................................................. 11 11 11 10 13 ---- ---- ---- ----- ---- Fixed charges as defined............................ $192 $164 $156 $ 183 $207 ==== ==== ==== ===== ==== Ratio of earnings to fixed charges....................... 0.97 1.15 1.17 0.55 0.64 ==== ==== ==== ===== ====
--------------- NOTE: Earnings were inadequate to cover fixed charges by $6 million, $82 million, and $74 million for the years ended December 31, 2004, 2001 and 2000, respectively. See Note 4 to the consolidated financial statements included herein for further information.