EX-12 6 c29399_ex12.txt Exhibit 12 E. I. DU PONT DE NEMOURS AND COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions)
Years Ended December 31 -------------------------------------------------------------- 2003 2002 2001 2000 1999 ------- ------- ------- ------- ------- Income from Continuing Operations Before Extraordinary Item and Cumulative Effect of a Change In Accounting Principle .............. $1,002 $1,841 $4,328(a) $2,314 $ 219 Provision for (Benefit from) Income Taxes ...... (930) 185 2,467 1,072 1,410 Minority Interests in Earnings of Consolidated Subsidiaries ................................ 71 98 49 61 61 Adjustment for Companies Accounted for by the Equity Method ....................... 360 45 93 (109) 33 Capitalized Interest ........................... (29) (45) (62) (69) (107) Amortization of Capitalized Interest ........... 119(b) 59 61 65 88(b) ------- ------- ------- ------- ------- 593 2,183 6,936 3,334 1,704 ------- ------- ------- ------- ------- Fixed Charges: Interest and Debt Expense - Continuing Operations ............................... 347 359 590 810 535 Interest and Debt Expense - Discontinued Operations(c) ............................ -- -- -- -- 180 Capitalized Interest - Continuing Operations 29 45 62 69 107 Capitalized Interest - Discontinued Operations(c) ............................ -- -- -- -- 3 Rental Expense Representative of Interest Factor ................................... 90 82 78 70 66 ------- ------- ------- ------- ------- 466 486 730 949 891 ------- ------- ------- ------- ------- Total Adjusted Earnings Available for Payment of Fixed Charges ............................ $1,059 $2,669 $7,666 $4,283 $2,595 ======= ======= ======= ======= ======= Number of Times Fixed Charges are Earned ....... 2.3 5.5 10.5 4.5 2.9 ======= ======= ======= ======= =======
------------------- (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. (c) Divestiture of Conoco Inc. was completed August 6, 1999.