EXHIBIT 12
TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
As Restated | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
(Dollars in Millions) | ||||||||||||||||||||
Income before cumulative effect of change in accounting principle | $ | 49 | $ | 56 | $ | 9 | $ | 25 | $ | 29 | ||||||||||
Add: | ||||||||||||||||||||
Interest expense | 136 | 133 | 178 | 146 | 140 | |||||||||||||||
Portion of rentals representative of the interest factor | 12 | 12 | 11 | 11 | 11 | |||||||||||||||
Income tax expense (benefit) and other taxes on income | 5 | 26 | (21 | ) | (6 | ) | (6 | ) | ||||||||||||
Minority interest | 6 | 2 | 4 | 6 | 4 | |||||||||||||||
Amortization of interest capitalized | 3 | 2 | 1 | 1 | 1 | |||||||||||||||
Undistributed (earnings) losses of affiliated companies in which in less than a 50% voting interest is owned | (3 | ) | (1 | ) | — | 2 | 2 | |||||||||||||
Earnings as defined | $ | 208 | $ | 230 | $ | 182 | $ | 185 | $ | 181 | ||||||||||
Interest expense | $ | 136 | $ | 133 | $ | 178 | $ | 146 | $ | 140 | ||||||||||
Interest capitalized | 6 | 3 | 2 | 4 | 4 | |||||||||||||||
Portion of rentals representative of the interest factor | 12 | 12 | 11 | 11 | 11 | |||||||||||||||
Fixed charges as defined | $ | 154 | $ | 148 | $ | 191 | $ | 161 | $ | 155 | ||||||||||
Ratio of earnings to fixed charges | 1.35 | 1.55 | 0.95 | 1.15 | 1.17 | |||||||||||||||
NOTE: | Earnings were inadequate to cover fixed charges by $9 million for the year ended December 31, 2004. |
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