Exhibit 12
CELANESE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (unaudited)
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||||
2006 | 2005 | 2006 | 2005 | |||||||||||||
(In $ millions, except ratio of earnings to combined fixed | ||||||||||||||||
charges) | ||||||||||||||||
Earnings: | ||||||||||||||||
Earnings from continuing operations before tax and minority interest | 146 | 123 | 307 | 136 | ||||||||||||
Less: | ||||||||||||||||
Equity in net earnings of affiliates | (18 | ) | (12 | ) | (39 | ) | (27 | ) | ||||||||
Plus: | ||||||||||||||||
Income distributions from equity investments | 19 | 10 | 36 | 46 | ||||||||||||
Amortization of capitalized interest | 1 | 2 | 2 | 3 | ||||||||||||
Total fixed charges | 87 | 84 | 172 | 277 | ||||||||||||
Total earnings as defined before combined fixed charges | 235 | 207 | 478 | 435 | ||||||||||||
Fixed charges: | ||||||||||||||||
Interest expense | 73 | 68 | 144 | 244 | ||||||||||||
Capitalized interest | 2 | 1 | 3 | 2 | ||||||||||||
Estimated interest portion of rent expense | 9 | 6 | 18 | 12 | ||||||||||||
Cumulative undeclared and declared preferred stock dividends | 2 | 2 | 5 | 4 | ||||||||||||
Guaranteed payment to minority shareholders | 1 | 7 | 2 | 15 | ||||||||||||
Total combined fixed charges | 87 | 84 | 172 | 277 | ||||||||||||
Ratio of earnings to combined fixed charges | 2.7 | 2.5 | 2.8 | 1.6 |