EX-99.4 6 a20138-kmtm2xex994.htm EXHIBIT 2013 8-K MTM (2) - EX99.4


Exhibit 99.4
EXHIBIT 12.1
Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
Change in accounting policy regarding pension and other postretirement benefits
Effective January 1, 2013, we elected to change our policy for recognizing actuarial gains and losses and changes in the fair value of plan assets for our defined benefit pension plans and other postretirement benefit plans. We now immediately recognize in operating results net actuarial gains and losses and the change in fair value of plan assets annually in the fourth quarter of each fiscal year and whenever a plan is required to be remeasured. The remaining components of our net periodic benefit cost are recorded on a quarterly basis. For further discussion, see Note 2 - Summary of Accounting Policies in the consolidated financial statements included as Exhibit 99.3 to this Current Report on Form 8-K. Financial information for prior periods has been retrospectively adjusted.
 
Year Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
 
As Adjusted
 
(In $ millions, except ratios)
Earnings:
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations before tax
321

 
467

 
433

 
105

 
(114
)
Subtract
 
 
 
 
 
 
 
 
 
Equity in net earnings of affiliates
(242
)
 
(192
)
 
(168
)
 
(99
)
 
(172
)
Add
 
 
 
 
 
 
 
 
 
Income distributions from equity investments
262

 
205

 
138

 
78

 
183

Amortization of capitalized interest
2

 
2

 
2

 
2

 
2

Total fixed charges
247

 
283

 
262

 
268

 
324

Total earnings as defined before combined fixed charges
590

 
765

 
667

 
354

 
223

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
185

 
221

 
204

 
207

 
261

Capitalized interest
7

 
4

 
2

 
2

 
6

Estimated interest portion of rent expense
55

 
58

 
53

 
49

 
47

Cumulative preferred stock dividends

 

 
3

 
10

 
10

Guaranteed payment to minority shareholders

 

 

 

 

Total combined fixed charges
247

 
283

 
262

 
268

 
324

Ratio of earnings to combined fixed charges
2.4x
 
2.7x
 
2.5x
 
1.3x
 
0.7x


EX 99.4 - 1