EX-12 3 ex121-10k.htm EX12.1 EX12.1-10K


Exhibit 12.1
Celanese Corporation and Subsidiaries
Statement of Computation of Ratio of Earnings to Fixed Charges
 
Year Ended December 31,
 
2011
 
2010
 
2009
 
2008
 
2007
 
(In $ millions, except ratios)
Earnings:
 
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations before tax
755

 
538

 
251

 
433

 
437

Subtract
 
 
 
 
 
 
 
 
 
Equity in net earnings of affiliates
(192
)
 
(168
)
 
(99
)
 
(172
)
 
(150
)
Add
 
 
 
 
 
 
 
 
 
Income distributions from equity investments
205

 
138

 
78

 
183

 
135

Amortization of capitalized interest
4

 
2

 
2

 
2

 
1

Total fixed charges
280

 
262

 
268

 
324

 
322

Total earnings as defined before combined fixed charges
1,052

 
772

 
500

 
770

 
745

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
221

 
204

 
207

 
261

 
262

Capitalized interest
1

 
2

 
2

 
6

 
9

Estimated interest portion of rent expense
58

 
53

 
49

 
47

 
41

Cumulative preferred stock dividends
—

 
3

 
10

 
10

 
10

Guaranteed payment to minority shareholders
—

 
—

 
—

 
—

 
—

Total combined fixed charges
280

 
262

 
268

 
324

 
322

Ratio of earnings to combined fixed charges
3.8x
 
2.9x
 
1.9x
 
2.4x
 
2.3x