EX-12 3 c72916exv12.txt COMPUTATION 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 (DOLLARS IN MILLIONS) (UNAUDITED)
NINE MONTHS ENDED SEPTEMBER 30, -------------- 2002 2001 ---- ---- Net income (loss)........................................... $ 22 $ (31) Add: Interest expense.......................................... 108 132 Portion of rentals representative of the interest factor................................................. 8 8 Income tax expense (benefit) and other taxes on income.... 6 (12) Minority Interest......................................... 2 -- Amortization of interest capitalized...................... 1 -- Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned......... 2 -- ----- ----- Earnings as defined.................................... $ 149 $ 97 ===== ===== Interest expense............................................ $ 108 $ 132 Interest capitalized........................................ 3 2 Portion of rentals representative of the interest factor.... 8 8 ----- ----- Fixed charges as defined............................... $ 119 $ 142 ===== ===== Ratio of earnings to fixed charges.......................... 1.25 .68 ===== =====
NOTE: Earnings were inadequate to cover fixed charges by $45 million for the nine months ended September 30, 2001.