EX-12 6 l99136aexv12.txt EXHIBIT 12 EXHIBIT 12 THE LUBRIZOL CORPORATION AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges (all amounts except ratios are shown in thousands)
2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- ---------- Pretax income $ 180,388 $ 139,949 $ 170,348 $ 195,350 $ 118,814 Add (deduct) earnings of less than 50% owned affiliates (net of distributed earnings) included in pretax income 1,676 (558) 1,135 (3,195) (1,470) Add losses of less than 50% owned affiliates included in pretax income - 2,162 1,818 18 888 Add fixed charges net of capitalized interest 23,298 25,041 26,869 29,696 18,976 Add previously capitalized interest amortized during period 1,159 1,634 1,255 1,446 1,191 ---------- --------- ---------- --------- --------- "Earnings" $ 206,521 $ 168,228 $ 201,425 $ 223,315 $ 138,399 ========== ========= ========== ========= ========= Gross interest expense $ 22,239 $ 24,142 $ 26,282 $ 28,953 $ 20,743 including capitalized interest ("Fixed Charges") Ratio of earnings to 9.29 6.97 7.66 7.71 6.67 fixed charges