EX-12 6 c75315exv12.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, ------------------------------------ 2002 2001 2000 1999 1998 ----- ----- ---- ----- ----- (DOLLARS IN MILLIONS) Net income (loss) before extraordinary loss and cumulative effect of change in accounting principle............................................ $ 31 $(130) $(41) $ (63) $ 116 Add: Interest expense..................................... 141 170 186 106 69 Portion of rentals representative of the interest factor............................................ 11 10 13 11 10 Preferred stock dividend requirements of majority-owned subsidiaries......................................... -- -- -- 22 27 Income tax expense (benefit) and other taxes on income............................................ (7) 51 (27) 82 13 Minority interest.................................... 4 -- -- -- -- Amortization of interest capitalized................. 1 1 -- -- -- Undistributed losses of affiliated companies in which less than a 50% voting interest is owned.......... 2 1 -- -- -- ----- ----- ---- ----- ----- Earnings as defined.......................... $ 183 $ 103 $131 $ 158 $ 235 ===== ===== ==== ===== ===== Interest expense....................................... $ 141 $ 170 $186 $ 106 $ 69 Interest capitalized................................... 4 3 6 -- -- Portion of rentals representative of the interest factor............................................... 11 10 13 11 10 Preferred stock dividend requirements of majority-owned subsidiaries on a pre-tax basis...................... -- -- -- 35 30 ----- ----- ---- ----- ----- Fixed charges as defined..................... $ 156 $ 183 $205 $ 152 $ 109 ===== ===== ==== ===== ===== Ratio of earnings to fixed charges..................... 1.17 .56 .64 1.04 2.16 ===== ===== ==== ===== =====