EXHIBIT 12
TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
(Dollars in Millions) | ||||||||||||||||||||
Net Income (loss) attributable to Tenneco Inc. | $ | (73 | ) | $ | (415 | ) | $ | (5 | ) | $ | 49 | $ | 56 | |||||||
Add: | ||||||||||||||||||||
Interest expense | 133 | 113 | 164 | 136 | 133 | |||||||||||||||
Portion of rentals representative of the interest factor | 14 | 15 | 12 | 12 | 12 | |||||||||||||||
Income tax expense (benefit) and other taxes on income | 13 | 289 | 83 | 5 | 26 | |||||||||||||||
Noncontrolling interests | 19 | 10 | 10 | 6 | 2 | |||||||||||||||
Amortization of interest capitalized | 4 | 3 | 3 | 3 | 2 | |||||||||||||||
Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned | 2 | (2 | ) | (1 | ) | (3 | ) | (1 | ) | |||||||||||
Earnings as defined | $ | 112 | $ | 13 | $ | 266 | $ | 208 | $ | 230 | ||||||||||
Interest expense | $ | 133 | $ | 113 | $ | 164 | $ | 136 | $ | 133 | ||||||||||
Interest capitalized | 4 | 6 | 6 | 6 | 3 | |||||||||||||||
Portion of rentals representative of the interest factor | 14 | 15 | 12 | 12 | 12 | |||||||||||||||
Fixed charges as defined | $ | 151 | $ | 134 | $ | 182 | $ | 154 | $ | 148 | ||||||||||
Ratio of earnings to fixed charges | — | — | 1.46 | 1.35 | 1.55 | |||||||||||||||
NOTE: | Earnings were inadequate to cover fixed charges by $39 million for the year ended December 31, 2009 and by $121 million for the year ended December 31, 2008. |
146