EX-12 2 ex12.htm EXHIBIT 12 Exhibit 12

EXHIBIT (12)

ENGELHARD CORPORATION
COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

   
Year Ended December 31,
  
   
2005
  
2004
  
2003
  
2002
  
2001
  
                       
Earnings from continuing operations before provision for income taxes and cumulative effect of an accounting change
  
$
305.4
  
$
294.6
  
$
305.3
  
$
237.9
  
$
305.2
  
                                 
Add/(deduct)
                                
                                 
Portion of rents representative of the interest factor
    
10.8
    
11.2
    
11.9
    
11.6
    
8.4
  
                                 
Interest on indebtedness
    
33.7
    
23.7
    
24.3
    
27.4
    
47.3
  
                                 
Equity dividends
    
15.4
    
21.6
    
24.6
    
3.9
    
4.2
  
                                 
Equity in (earnings) losses of affiliates
    
(32.6
)
  
(37.6
)
  
(39.4
)
  
(16.2
)
  
(29.1
)
                                 
Earnings, as adjusted
  
$
332.7
  
$
313.5
  
$
326.7
  
$
264.6
  
$
336.0
  
                                 
Fixed Charges
                                
                                 
Portion of rents representative of the interest factor
  
$
10.8
  
$
11.2
  
$
11.9
  
$
11.6
  
$
8.4
  
                                 
Interest on indebtedness
    
33.7
    
23.7
    
24.3
    
27.4
    
47.3
  
                                 
Capitalized interest
    
3.0
    
2.4
    
3.0
    
3.0
    
3.0
  
                                 
Fixed charges
  
$
47.5
  
$
37.3
  
$
39.2
  
$
42.0
  
$
58.7
  
                                 
Ratio of Earnings to Fixed Charges
    
7.00
    
8.40
    
8.33
    
6.30
    
5.72