EX-12.1 3 g72362ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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 NINE MONTHS ENDED SEPTEMBER 30, FOR THE YEARS ENDED DECEMBER 31, ------------------- ----------------------------------- 2001 2000 1999 1998 1997 1996 ------------------- ---- ---- ----- ---- ------ Earnings before fixed charges: Income (loss) from continuing operations before income taxes................... $716 $748 $510 $(679) $204 $ 563 Interest and debt expense................ 113 168 268 426 433 462 Interest portion of rental expense....... 11 15 15 16 16 14 ---- ---- ---- ----- ---- ------ Earnings (loss) before fixed charges....... $840 $931 $793 $(237) $653 $1,039 ==== ==== ==== ===== ==== ====== Fixed charges: Interest and debt expense................ $113 $168 $268 $ 426 $433 $ 462 Interest portion of rental expense....... 11 15 15 16 16 14 ---- ---- ---- ----- ---- ------ Total fixed charges.............. $124 $183 $283 $ 442 $449 $ 476 ==== ==== ==== ===== ==== ====== Ratio of earnings to fixed charges......... 6.8 5.1 2.8 -- 1.5 2.2 ==== ==== ==== ===== ==== ====== Deficiency in the coverage of fixed charges by earnings before fixed charges......... -- -- -- $(679) -- -- ==== ==== ==== ===== ==== ======