EX-12 16 c48873exv12.htm EX-12 exv12
 
EXHIBIT 12
 
TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
 
COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
                                         
    Years Ended December 31,  
    2008     2007     2006     2005     2004  
          (Dollars in Millions)        
 
Income (loss) before cumulative effect of change in accounting principle
  $ (415 )   $ (5 )   $ 49     $ 56     $ 9  
Add:
                                       
Interest expense
    113       164       136       133       178  
Portion of rentals representative of the interest factor
    15       12       12       12       11  
Income tax expense (benefit) and other taxes on income
    289       83       5       26       (21 )
Minority interest
    10       10       6       2       4  
Amortization of interest capitalized
    3       3       3       2       1  
Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned
    (2 )     (1 )     (3 )     (1 )     —  
                                         
Earnings as defined
  $ 13     $ 266     $ 208     $ 230     $ 182  
                                         
Interest expense
  $ 113     $ 164     $ 136     $ 133     $ 178  
Interest capitalized
    6       6       6       3       2  
Portion of rentals representative of the interest factor
    15       12       12       12       11  
                                         
Fixed charges as defined
  $ 134     $ 182     $ 154     $ 148     $ 191  
                                         
Ratio of earnings to fixed charges
    0.10       1.46       1.35       1.55       0.95  
                                         
 
 
NOTE:  Earnings were inadequate to cover fixed charges by $121 million for the year ended December 31, 2008 and by $9 million for the year ended December 31, 2004.


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