EX-12 3 w97078exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 E. I. DU PONT DE NEMOURS AND COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions)
THREE MONTHS ENDED Years Ended December 31, MARCH 31, -------------------------------------------------------------------- 2005 2004 2003 2002 2001 2000 ------------ ------- ------- ------- ------- ------- Income before cumulative effect of changes in accounting principles $ 967 $ 1,780 $ 1,002 $ 1,841 $ 4,328(a) $ 2,314 Provision for (benefit from) income taxes 509 (329) (930) 185 2,467 1,072 Minority interests in earnings (losses) of consolidated subsidiaries 18 (9) 71 98 49 61 Adjustment for companies accounted for by the equity method (19) 99 360 45 93 (109) Capitalized interest (5) (17) (29) (45) (62) (69) Amortization of capitalized interest 8 365(b) 119(b) 59 61 65 ------- ------- ------- ------- ------- ------- 1,478 1,889 593 2,183 6,936 3,334 ------- ------- ------- ------- ------- ------- Fixed charges: Interest and debt expense 104 362 347 359 590 810 Capitalized interest 5 17 29 45 62 69 Rental expense representative of interest factor 23 91 90 82 78 70 ------- ------- ------- ------- ------- ------- 132 470 466 486 730 949 ------- ------- ------- ------- ------- ------- Total adjusted earnings available for payment of fixed charges $ 1,610 $ 2,359 $ 1,059 $ 2,669 $ 7,666 $ 4,283 ======= ======= ======= ======= ======= ======= Number of times fixed charges earned 12.2 5.0 2.3 5.5 10.5 4.5 ======= ======= ======= ======= ======= =======
(a) Includes $3,866 after-tax gain on the sale of DuPont Pharmaceuticals to Bristol-Myers Squibb. (b) Includes write-off of capitalized interest associated with exiting certain businesses.