EX-12 7 c99536exv12.txt COMPUTATION OF RATIO OF EARNINGS OF FIXED CHARGES EXHIBIT 12 TENNECO 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, ----------------- 2005 2004 ------- ------- Net income.................................................................................................... $ 50 $ 34 Add: Interest expense............................................................................................ 97 104 Amortization of capitalized interest........................................................................ 2 1 Portion of rentals representative of the interest factor.................................................... 9 8 Income tax expense and other taxes on income................................................................ 29 11 Minority interest........................................................................................... 1 4 Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned... (1) -- -------- ------- Earnings as defined........................................................................................ $ 187 $ 162 ======= ======= Interest expense.............................................................................................. $ 97 $ 104 Interest capitalized.......................................................................................... 2 1 Portion of rentals representative of the interest factor...................................................... 9 8 ------- ------- Fixed charges as defined................................................................................... $ 108 $ 113 ======= ======= Ratio of earnings to fixed charges............................................................................ 1.73 1.43 ======= =======