EX-12 3 ratiofc.txt EXHIBIT 12.1 - RATIO TO EARNINGS
Ratios of Earnings to Fixed Charges Qtr End --------------------------------------------------------------------- 10/2/2004 2003 2002 2001 2000 1999 --------------------------------------------------------------------- Ratio of Earnings to Fixed Charges: Consolidated 1.50x 0.81x 1.22x 1.25x 1.39x 1.45x Consolidated, excluding interest on deposits 1.72x 0.71x 1.40x 1.56x 1.94x 2.06x Parent company 2.10x 0.26x 1.60x 2.05x 3.13x 3.29x
Temple-Inland Inc. (Parent company) Computations of Ratios of Earnings to Fixed Charges Quarter End Actual ------------ -------------------------------------------------------- For the year (dollars in millions) 10/2/2004 2003 2002 2001 2000 1999 ------------ -------------------------------------------------------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $177 $ (97) $ 107 $177 $ 320 $ 306 Less: Financial services pre-tax income (128) (181) (164) (184) (189) (138) Equity method investees pre-tax income (19) (6) - (3) (9) (9) Capitalized interest - (1) - (4) (4) (2) Add: Dividends from Financial Services investees 70 166 125 124 110 70 Dividends from equity method 10 8 11 - 14 1 Equity method investees pre-tax loss - - 1 - - - Fixed charges from below 103 144 141 109 116 102 Amortization of capitalized interest 3 4 4 4 5 6 ------------ -------------------------------------------------------- Total earnings $216 $37 $225 $223 $363 $336 ============ ======================================================== Fixed Charges: Interest expense - Parent company $97 $135 $133 $98 $ 105 $ 95 Capitalized interest - 1 - 4 4 2 Interest portion of rental expense 6 8 8 7 7 5 ------------ -------------------------------------------------------- Total fixed charges $103 $144 $141 $109 $116 $102 ============ ======================================================== Ratio of earnings to fixed charges: Actual 2.10x 0.26x 1.60x 2.05x 3.13x 3.29x ============ ========================================================
Temple-Inland Inc. (Consolidated) Including Interest on Deposits Computations of Ratios of Earnings to Fixed Charges Quarter End Actual ----------- ----------------------------------------------------------- For the year (dollars in millions) 10/2/2004 2003 2002 2001 2000 1999 ----------- ----------------------------------------------------------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $177 $(97) $ 107 $ 177 $ 320 $ 306 Less: Capitalized interest (1) (2) (1) (6) (7) (5) Equity method investees pre-tax income (19) (6) - (3) (9) (9) Add: Fixed charges from below 339 499 545 709 839 662 Equity method investees pre-tax loss - - 1 - - - Dividends from equity method investees 10 8 11 - 14 1 Amortization of capitalized interest 3 4 4 6 7 8 ----------- ----------------------------------------------------------- Total earnings $509 $406 $667 $883 $1,164 $963 =========== =========================================================== Fixed Charges: Interest expense $97 $135 $ 133 $ 98 $ 105 $ 95 Interest on borrowings - Financial Services 128 169 161 196 225 173 Interest on deposits - Financial Services 104 182 239 399 493 379 Capitalized interest 1 2 1 6 7 8 Interest portion of rental expense 9 11 11 10 9 7 ----------- ----------------------------------------------------------- Total fixed charges $339 $499 $545 $709 $839 $662 =========== =========================================================== Ratio of earnings to fixed charges 1.50x 0.81x 1.22x 1.25x 1.39x 1.45x =========== ===========================================================
Temple-Inland Inc. (Consolidated) Excluding Interest on Deposits Computations of Ratios of Earnings to Fixed Charges Quarter End Actual ----------- ----------------------------------------------------------- For the year (dollars in millions) 10/2/2004 2003 2002 2001 2000 1999 ----------- ----------------------------------------------------------- Ratio of Earnings to Fixed Charges: Earnings: Pre-tax income from continuing operations $177 $(97) $ 107 $ 177 $ 320 $ 306 Less: Capitalized interest (1) (2) (1) (6) (7) (5) Equity method investees pre-tax income (19) (6) - (3) (9) (9) Add: Fixed charges from below 235 317 306 310 346 283 Equity method investees pre-tax loss - - 1 - - - Dividends from equity method investees 10 8 11 - 14 1 Amortization of capitalized interest 3 4 4 6 7 8 ----------- ----------------------------------------------------------- Total earnings $405 $224 $428 $484 $671 $584 =========== =========================================================== Fixed Charges: Interest expense $97 $135 $ 133 $ 98 $ 105 $ 95 Interest on borrowings - Financial Services 128 169 161 196 225 173 Capitalized interest 1 2 1 6 7 8 Interest portion of rental expense 9 11 11 10 9 7 ----------- ----------------------------------------------------------- Total fixed charges $235 $317 $ 306 $310 $ 346 $ 283 =========== =========================================================== Ratio of earnings to fixed charges 1.72x 0.71x 1.40x 1.56x 1.94x 2.06x =========== ===========================================================