EX-12 2 c21258exv12.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)
AS RESTATED (NOTE 2) ------------- NINE MONTHS NINE MONTHS ENDED ENDED SEPTEMBER 30, SEPTEMBER 30, ------------- ------------- 2007 2006 ------------- ------------- Net income......................................... $ 67 $ 34 Add: Interest expense................................... 112 102 Amortization of capitalized interest............... 1 2 Portion of rentals representative of the interest factor........................................... 10 9 Income tax benefit and other taxes on income....... 22 17 Minority interest.................................. 8 4 Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned................................ (1) (1) ----- ----- Earnings as defined.............................. $ 219 $ 167 ===== ===== Interest expense................................... $ 112 $ 102 Interest capitalized............................... 3 5 Portion of rentals representative of the interest factor........................................... 10 9 ----- ----- Fixed charges as defined......................... $ 125 $ 116 ===== ===== Ratio of earnings to fixed charges................. 1.75 1.44 ===== =====