EX-12 4 d262239dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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

 

     Years Ended December 31,  
     2011      2010      2009     2008     2007  
     (Dollars in Millions)  

Net Income (loss) attributable to Tenneco Inc.

   $ 157       $ 39       $ (73   $ (415   $ (5

Add:

            

Interest expense

     108         149         133        113        164   

Portion of rentals representative of the interest factor

     17         15         14        15        12   

Income tax expense and other taxes on income

     88         69         13        289        83   

Noncontrolling interests

     26         24         19        10        10   

Amortization of interest capitalized

     4         4         4        3        3   

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

                     2        (2     (1
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Earnings as defined

   $ 400       $ 300       $ 112      $ 13      $ 266   
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Interest expense

   $ 108       $ 149       $ 133      $ 113      $ 164   

Interest capitalized

     4         4         4        6        6   

Portion of rentals representative of the interest factor

     17         15         14        15        12   
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Fixed charges as defined

   $ 129       $ 168       $ 151      $ 134      $ 182   
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     3.10         1.79                       1.46   
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

 

 

NOTE: Earnings were inadequate to cover fixed charges by $39 million for the year ended December 31, 2009 and by $121 million for the year ended December 31, 2008.