EX-12 2 a5199263ex12.txt EXHIBIT 12 Exhibit 12
Cytec Industries Inc. Computation of Ratio of Earnings to Fixed Charges (Dollar amounts in millions) Three Months Ended Six Months Ended June 30, June 30, -------------------------------- -------------------------------- 2006 2005 2006 2005 ------------ ------------ ------------ -------------- Earnings (loss) from continuing operations before income taxes, minority interest and equity in earnings of associated companies $ 58.6 $ (7.9) $ 111.8 $ (30.5) Add: Distributed income of associated companies 1.9 - 1.9 1.0 Amortization of capitalized interest 0.5 0.2 1.1 0.3 Fixed charges 16.8 40.4 33.4 52.8 Less: Capitalized interest (0.4) (0.2) (0.7) (0.4) Minority interest (0.2) - (0.4) - --------- --------- --------- ---------- Earnings as adjusted $ 77.2 $ 32.5 $ 147.1 $ 23.2 Fixed charges: Interest on indebtedness including amortized premiums, discounts and deferred financing costs $ 15.6 $ 39.0 $ 31.0 $ 50.3 Portion of rents representative of the interest factor 1.2 1.4 2.4 2.5 --------- --------- --------- ---------- Fixed charges $ 16.8 $ 40.4 $ 33.4 $ 52.8 Ratio of earnings to fixed charges 4.6 0.8 (1) 4.4 0.4 (1) ========= ========= ========= ==========
(1) In order to achieve a one-to-one ratio of earnings to fixed charges for the three and six months ended June 30, 2005, earnings would need to increase by $7.9 and 29.6 respectively.