EX-12 5 c91289exv12.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
YEARS ENDED DECEMBER 31, -------------------------------------- 2004 2003 2002 2001 2000 ------- ------- ------- ------- ------ (DOLLARS IN MILLIONS) Income (loss) before cumulative effect of change in accounting principle......................... $ 13 $ 27 $ 31 $ (130)$ (42) Add: Interest expense................................ 179 149 141 170 188 Portion of rentals representative of the interest factor.............................. 11 11 11 10 13 Income tax expense (benefit) and other taxes on income....................................... (25) (6) (7) 51 (28) Minority interest............................... 4 6 4 -- -- Amortization of interest capitalized............ 1 1 1 1 -- Undistributed losses of affiliated companies in which in less than a 50% voting interest is owned............................ -- 2 2 1 -- ------- ------- ------- ------- ------ Earnings as defined.......................... $ 183 $ 190 $ 183 $ 103 $ 131 ======= ======= ======= ======= ====== Interest expense.................................. $ 179 $ 149 $ 141 $ 170 $ 188 Interest capitalized.............................. 2 4 4 3 6 Portion of rentals representative of the interest factor.......................................... 11 11 11 10 13 ------- ------- ------- ------- ------ Fixed charges as defined..................... $ 192 $ 164 $ 156 $ 183 $ 207 ======= ======= ======= ======= ====== Ratio of earnings to fixed charges................ 0.95 1.16 1.17 0.56 0.63 ======= ======= ======= ======= ======
NOTE: Earnings were inadequate to cover fixed charges by $9 million, $80 million, and $76 million for the years ended December 31, 2004, 2001 and 2000, respectively.