Exhibit 12
CELANESE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Successor | Predecessor | |||||||||||||||||||||
Three Months Ended September 30, 2005 | Three Months Ended September 30, 2004 | Nine Months Ended September 30, 2005 | Six Months Ended September 30, 2004 | Three Months Ended March 31, 2004 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||
Earnings (loss) from continuing operations before tax and minority interest | 74 | (31 | ) | 220 | (135 | ) | 72 | |||||||||||||||
Less: | ||||||||||||||||||||||
Equity in net earnings of affiliates | (21 | ) | (17 | ) | (48 | ) | (35 | ) | (12 | ) | ||||||||||||
Plus: | ||||||||||||||||||||||
Income distributions from equity investments | 14 | 15 | 60 | 21 | 15 | |||||||||||||||||
Amortization of capitalized interest | — | 2 | 3 | 4 | 2 | |||||||||||||||||
Total fixed charges | 85 | 106 | 363 | 243 | 16 | |||||||||||||||||
Total earnings as defined before combined fixed charges | 152 | 75 | 598 | 98 | 93 | |||||||||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expense | 72 | 98 | 316 | 228 | 6 | |||||||||||||||||
Capitalized interest | — | 1 | 3 | 2 | 3 | |||||||||||||||||
Estimated interest portion of rent expense | 5 | 7 | 17 | 13 | 7 | |||||||||||||||||
Cumulative undeclared and declared preferred stock dividends | 3 | — | 7 | — | — | |||||||||||||||||
Guaranteed payment to minority shareholders | 5 | — | 20 | — | — | |||||||||||||||||
Total combined fixed charges | 85 | 106 | 363 | 243 | 16 | |||||||||||||||||
Ratio of earnings to combined fixed charges(1) | 1.8 | — | 1.6 | — | 5.8 | |||||||||||||||||
(1) | Earnings were insufficient to cover combined fixed charges by $31 million and $145 million for the three months and six months ended September 30, 2004, respectively. |