Exhibit 12
| 2001 | 2002 | 2003 | 2004 | 2005 | 3/31/05 | 3/31/06 | |||||||||||||||||||
Computation of Earnings: | |||||||||||||||||||||||||
Income/(loss) from continuing operations before income taxes and cumulative effect of a change in accounting | ($495 | ) | ($ | 207 | ) | $ | 53 | $ | 104 | ($ | 314 | ) | $ | (19 | ) | $ | 28 | ||||||||
Adjustments to income: | |||||||||||||||||||||||||
Add: Distributed income from less than 50% owned companies | 2 | 5 | 9 | 11 | 9 | 1 | 1 | ||||||||||||||||||
Add: Fixed charges as presented below | 469 | 355 | 398 | 380 | 379 | 99 | 71 | ||||||||||||||||||
Subtract: Interest capitalized | (1 | ) | (1 | ) | 0 | (1 | ) | 0 | 0 | ||||||||||||||||
Add: Amortization of interest previously capitalized | 1 | 1 | 1 | 0 | 0 | ||||||||||||||||||||
Earnings | ($24 | ) | $ | 153 | $ | 460 | $ | 496 | $ | 73 | $ | 81 | $ | 100 | |||||||||||
Computation of Fixed Charges: | |||||||||||||||||||||||||
Interest incurred | $455 | $ | 342 | $ | 356 | $ | 338 | $ | 344 | $ | 90 | $ | 65 | ||||||||||||
Amortization of debt-related costs | 2 | 2 | 23 | 23 | 17 | 4 | 2 | ||||||||||||||||||
Portion of rental expense representative of interest (1) | 11 | 11 | 18 | 19 | 17 | 5 | 4 | ||||||||||||||||||
Interest capitalized | 1 | 1 | 1 | 0 | 0 | ||||||||||||||||||||
Total fixed charges | $469 | $ | 355 | $ | 398 | $ | 380 | $ | 379 | $ | 99 | $ | 71 | ||||||||||||
Ratio of earnings to fixed charges (2) | * | * | 1.2 | 1.3 | * | * | 1.4 | ||||||||||||||||||
| (1) | One-third of net rent expense is the portion deemed representative of the interest factor. |
| (2) | Earnings did not cover fixed charges by $493 in 2001, $202 in 2002, $306 in 2005 and $18 for the three months ended March 31, 2005. |