EX-12 3 c09644exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 TENNECO INC. AND CONSOLIDATED SUBSIDIARIES COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS) (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, ------------- 2006 2005 ----- ----- Net income....................................................... $ 37 $ 50 Add: Interest expense................................................. 101 97 Amortization of capitalized interest............................. 2 2 Portion of rentals representative of the interest factor......... 9 9 Income tax benefit and other taxes on income..................... 18 29 Minority interest................................................ 4 1 Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned....................... (1) (1) ----- ----- Earnings as defined............................................ $ 170 $ 187 ===== ===== Interest expense................................................. $ 101 $ 97 Interest capitalized............................................. 5 2 Portion of rentals representative of the interest factor......... 9 9 ----- ----- Fixed charges as defined....................................... $ 115 $ 108 ===== ===== Ratio of earnings to fixed charges............................... 1.48 1.73 ===== =====