EX-12 4 l87084aex12.txt EXHIBIT 12 1 EXHIBIT 12 FERRO CORPORATION AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES DECEMBER DECEMBER (DOLLARS IN THOUSANDS) 2000 1999 -------- -------- EARNINGS: PRE-TAX INCOME 116,615 116,114 ADD: FIXED CHARGES 28,113 22,206 LESS: INTEREST CAPITALIZATION (541) (1,312) -------- -------- TOTAL EARNINGS 144,187 137,008 ======== ======== FIXED CHARGES: INTEREST EXPENSE 24,925 18,343 INTEREST CAPITALIZATION 541 1,312 INTEREST PORTION OF RENTAL EXPENSE 2,647 2,551 -------- -------- TOTAL FIXED CHARGES 28,113 22,206 ======== ======== TOTAL EARNINGS 144,187 137,008 DIVIDED BY: TOTAL FIXED CHARGES 28,113 22,206 -------- -------- RATIO 5.13 6.17 NOTE: PREFERRED DIVIDENDS ARE EXCLUDED. AMORTIZATION OF DEBT EXPENSE AND DISCOUNTS AND PREMIUMS WERE DEEMED IMMATERIAL TO THE ABOVE CALCULATION.