Exhibit 12
E. I. DU PONT DE NEMOURS AND COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
(Dollars in millions)
Nine Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
September 30, | Years Ended December 31, | |||||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||
Income before cumulative effect of changes in accounting principles | $ | 2,277 | $ | 2,053 | $ | 1,780 | $ | 1,002 | $ | 1,841 | $ | 4,328 | (a) | |||||||||||
Provision for (benefit from) income taxes | 662 | 1,468 | (329 | ) | (930 | ) | 185 | 2,467 | ||||||||||||||||
Minority interests in earnings (losses) of consolidated subsidiaries | 2 | 37 | (9 | ) | 71 | 98 | 49 | |||||||||||||||||
Adjustment for companies accounted for by the equity method | 90 | 215 | 99 | 360 | 45 | 93 | ||||||||||||||||||
Capitalized interest | (26 | ) | (23 | ) | (17 | ) | (29 | ) | (45 | ) | (62 | ) | ||||||||||||
Amortization of capitalized interest | 25 | 33 | 365 | (b) | 119 | (b) | 59 | 61 | ||||||||||||||||
3,030 | 3,783 | 1,889 | 593 | 2,183 | 6,936 | |||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest and debt expense | 347 | 518 | 362 | 347 | 359 | 590 | ||||||||||||||||||
Capitalized interest | 26 | 23 | 17 | 29 | 45 | 62 | ||||||||||||||||||
Rental expense representative of interest factor | 66 | 88 | 91 | 90 | 82 | 78 | ||||||||||||||||||
439 | 629 | 470 | 466 | 486 | 730 | |||||||||||||||||||
Total adjusted earnings available for payment of fixed charges | $ | 3,469 | $ | 4,412 | $ | 2,359 | $ | 1,059 | $ | 2,669 | $ | 7,666 | ||||||||||||
Number of times fixed charges earned | 7.9 | 7.0 | 5.0 | 2.3 | 5.5 | 10.5 | ||||||||||||||||||
(a) | Includes $3,866 after-tax gain on the sale of DuPont Pharmaceuticals to Bristol-Myers Squibb. | |
(b) | Includes write-off of capitalized interest associated with exiting certain businesses. |