EX-12 7 d94847ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 TEMPLE-INLAND INC. (PARENT COMPANY) COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
PRO ACTUAL FORMA -------------------------------------------------------- For the year (dollars in millions) 2001 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $ 180 $ 177 $ 320 $ 306 $ 158 $ 108 Less: Financial services pre-tax income (184) (184) (189) (138) (154) (132) Equity method investees pre-tax income (3) (3) (9) (9) (4) (1) Capitalized interest (5) (4) (4) (2) (1) (2) Add: Dividends from Financial Services 124 124 110 70 44 275 Fixed charges from below 169 109 116 102 84 88 Dividends from equity method investees -- -- 14 1 2 -- Amortization of capitalized interest 4 4 5 6 6 5 -------- -------- -------- -------- -------- -------- Total earnings $ 285 $ 223 $ 363 $ 336 $ 135 $ 341 ======== ======== ======== ======== ======== ======== Fixed Charges: Interest expense - Parent company $ 154 $ 98 $ 105 $ 95 $ 78 $ 82 Capitalized interest 5 4 4 2 1 2 Interest portion of rental expense 10 7 7 5 5 4 -------- -------- -------- -------- -------- -------- Total fixed charges $ 169 $ 109 $ 116 $ 102 $ 84 $ 88 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges: Actual 2.05x 3.13x 3.29x 1.61x 3.88x ======== ======== ======== ======== ======== Supplemental Pro Forma - Acquisition(1) 1.69x ======== (1) Includes the effect of acquisition of Gaylord Container Corporation.
TEMPLE-INLAND INC. (CONSOLIDATED) INCLUDING INTEREST ON DEPOSITS COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
PRO ACTUAL FORMA -------------------------------------------------------- For the year (dollars in millions) 2001 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $ 180 $ 177 $ 320 $ 306 $ 158 $ 108 Less: Capitalized interest (7) (6) (7) (5) (5) (4) Equity method investees pre-tax income (3) (3) (9) (9) (4) (1) Add: Fixed charges from below 769 709 839 662 601 590 Dividends from equity method investees -- -- 14 1 2 -- Amortization of capitalized interest 6 6 7 8 8 7 -------- -------- -------- -------- -------- -------- Total earnings $ 945 $ 883 $ 1,164 $ 963 $ 760 $ 700 ======== ======== ======== ======== ======== ======== Fixed Charges: Interest expense $ 154 $ 98 $ 105 $ 95 $ 78 $ 82 Interest on borrowings - Financial Services 176 176 207 158 137 157 Interest on deposits - Financial Services 399 399 493 379 357 331 Subsidiary preferred stock dividend requirements 20 20 18 15 14 7 Capitalized interest 7 6 7 8 8 7 Interest portion of rental expense 13 10 9 7 7 6 -------- -------- -------- -------- -------- -------- Total fixed charges $ 769 $ 709 $ 839 $ 662 $ 601 $ 590 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges: Actual 1.25x 1.39x 1.45x 1.26x 1.19x ======== ======== ======== ======== ======== Supplemental Pro Forma - Acquisition(1) 1.23x ======== (1) Includes the effect of acquisition of Gaylord Container Corporation.
TEMPLE-INLAND INC. (CONSOLIDATED) EXCLUDING INTEREST ON DEPOSITS COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
PRO ACTUAL FORMA -------------------------------------------------------- For the year (dollars in millions) 2001 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $ 180 $ 177 $ 320 $ 306 $ 158 $ 108 Less: Capitalized interest (7) (6) (7) (5) (5) (4) Equity method investees pre-tax income (3) (3) (9) (9) (4) (1) Add: Fixed charges from below 370 310 346 283 244 259 Dividends from equity method investees -- -- 14 1 2 -- Amortization of capitalized interest 6 6 7 8 8 7 -------- -------- -------- -------- -------- -------- Total earnings $ 546 $ 484 $ 671 $ 584 $ 403 $ 369 ======== ======== ======== ======== ======== ======== Fixed Charges: Interest expense - Parent company $ 154 $ 98 $ 105 $ 95 $ 78 $ 82 Interest on borrowings - Financial Services 176 176 207 158 137 157 Subsidiary preferred stock dividends 20 20 18 15 14 7 Capitalized interest 7 6 7 8 8 7 Interest portion of rental expense 13 10 9 7 7 6 -------- -------- -------- -------- -------- -------- Total fixed charges $ 370 $ 310 $ 346 $ 283 $ 244 $ 259 ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges: Actual 1.56x 1.94x 2.06x 1.65x 1.42x ======== ======== ======== ======== ======== Supplemental Pro Forma - Acquisition(1) 1.48x ======== (1) Includes the effect of acquisition of Gaylord Container Corporation.