STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12 |
Twelve months ended December 31, 2000 | |||
Computation of Earnings: | |||
Pretax income/(loss) from continuing operations | ($217 | ) | |
Adjustments to income: | |||
Add: Distributed income from less than 50% owned companies | 4 | ||
Add: Portion of rent expense representative of interest expense | 12 | ||
Add: Interest incurred net of amounts capitalized | 393 | ||
Add: Amortization of interest previously capitalized | (1 | ) | |
Add: Amortization of debt issue costs and discount or premium on indebtedness | 3 | ||
Earnings | 194 | ||
Computation of Fixed Charges: | |||
Interest incurred | $394 | ||
Amortization of debt issue costs and discount or premium on indebtedness | 3 | ||
Portion of rental expense representative of interest | 12 | ||
Preferred stock dividend requirements | 3 | ||
Fixed Charges | 412 | ||
Ratio of Earnings to Fixed Charges | .5 |