EX-12 3 ten-2017630x10qexhibit12.htm EX-12 Exhibit



EXHIBIT 12

TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
COMBINED WITH 50% OR LESS OWNED UNCONSOLIDATED SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)

 
Six Months Ended June 30,
 
2017
 
2016
 
(Millions)
Net income attributable to Tenneco Inc. *
$
56

 
$
139

Add:
 
 
 
Interest expense
35

 
52

Portion of rental representative of the interest factor
12

 
11

Income tax expense *
25

 
73

Noncontrolling interests *
32

 
31

Amortization of interest capitalized
2

 
2

Undistributed losses of affiliated companies in which less
 
 
 
than a 50% voting interest is owned
1

 
—

Earnings as defined *
$
163

 
$
308

Interest expense
35

 
52

Interest capitalized
4

 
3

Portion of rentals representative of the interest factor
12

 
11

Fixed charges as defined
$
51

 
$
66

Ratio of earnings to fixed charges *
3.20

 
4.67


* Financial statements for 2016 and first quarter 2017 have been revised for certain immaterial supplier cost reduction payments that Tenneco determined should have been recognized in future periods and for cost of sales expense that should have been accrued in prior periods for substrate liabilities.