EX-12 4 c67755ex12.txt STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 TENNECO AUTOMOTIVE INC. AND CONSOLIDATED SUBSIDIARIES COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
YEARS ENDED DECEMBER 31, ------------------------------------ 2001 2000 1999 1998 1997 ----- ---- ----- ----- ----- Income (loss) from continuing operations............... $(130) $(41) $ (63) $ 116 $ 234 Add: Interest............................................. 170 186 106 69 58 Portion of rentals representative of interest factor............................................ 10 13 11 10 10 Preferred stock dividend requirements of majority-owned subsidiaries....................... -- -- 22 27 21 Income tax expense and other taxes on income......... 51 (27) 82 13 80 Amortization of interest capitalized................. 1 -- -- -- -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned.......................................... 1 -- -- -- -- ----- ---- ----- ----- ----- Earnings as defined............................. $ 103 $131 $ 158 $ 235 $ 403 ----- ---- ----- ----- ----- Interest............................................... $ 170 $186 $ 106 $ 69 $ 58 Interest capitalized................................... 3 6 -- -- -- Portion of rentals representative of interest factor... 10 13 11 10 10 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis...................... -- -- 35 30 16 ----- ---- ----- ----- ----- Fixed charges as defined........................ $ 183 $205 $ 152 $ 109 $ 84 ===== ==== ===== ===== ===== Ratio of earnings to fixed charges..................... .56 .64 1.04 2.16 4.80 ===== ==== ===== ===== =====
------------------------- Note: For the year ended December 31, 2001, earnings were inadequate to cover fixed charges by $81 million.