EX-12.1 6 ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12.1 R.J. REYNOLDS TOBACCO HOLDINGS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES/ DEFICIENCY IN THE COVERAGE OF FIXED CHARGES BY EARNINGS BEFORE FIXED CHARGES (DOLLARS IN MILLIONS) (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, FOR THE YEARS ENDED DECEMBER 31, -------------- ----------------------------------- 2000 1999 1998 1997 1996 1995 -------------- ---- ----- ---- ------ ---- Earnings before fixed charges: Income (loss) from continuing operations before income taxes....................... $389 $510 $(679) $204 $ 563 $348 Interest and debt expense.................... 86 268 426 433 462 484 Interest portion of rental expense........... 8 15 16 16 14 14 ---- ---- ----- ---- ------ ---- Earnings before fixed charges.................. $483 $793 $(237) $653 $1,039 $846 ==== ==== ===== ==== ====== ==== Fixed charges: Interest and debt expense.................... $ 86 $268 $ 426 $433 $ 462 $484 Interest portion of rental expense........... 8 15 16 16 14 14 ---- ---- ----- ---- ------ ---- Total fixed charges.................. $ 94 $283 $ 442 $449 $ 476 $498 ==== ==== ===== ==== ====== ==== Ratio of earnings to fixed charges............. 5.1 2.8 -- 1.5 2.2 1.7 ==== ==== ===== ==== ====== ==== Deficiency in the coverage of fixed charges by earnings before fixed charges................ -- -- $(679) -- -- -- ==== ==== ===== ==== ====== ====