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E. I. DU PONT DE NEMOURS AND COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Years Ended December 31 | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||
Income from Continuing Operations Before Extraordinary Item and Cumulative Effect of a Change In Accounting Principles | $ | 1,780 | $ | 1,002 | $ | 1,841 | $ | 4,328 | (a) | $ | 2,314 | ||||||
(Benefit from) Provision for Income Taxes | (329 | ) | (930 | ) | 185 | 2,467 | 1,072 | ||||||||||
Minority Interests in (Losses) Earnings of Consolidated Subsidiaries | (9 | ) | 71 | 98 | 49 | 61 | |||||||||||
Adjustment for Companies Accounted for by the Equity Method | 99 | 360 | 45 | 93 | (109 | ) | |||||||||||
Capitalized Interest | (17 | ) | (29 | ) | (45 | ) | (62 | ) | (69 | ) | |||||||
Amortization of Capitalized Interest | 365 | (b) | 119 | (b) | 59 | 61 | 65 | ||||||||||
1,889 | 593 | 2,183 | 6,936 | 3,334 | |||||||||||||
Fixed Charges: | |||||||||||||||||
Interest and Debt Expense | 362 | 347 | 359 | 590 | 810 | ||||||||||||
Capitalized Interest | 17 | 29 | 45 | 62 | 69 | ||||||||||||
Rental Expense Representative of Interest Factor | 91 | 90 | 82 | 78 | 70 | ||||||||||||
470 | 466 | 486 | 730 | 949 | |||||||||||||
Total Adjusted Earnings Available for Payment of Fixed Charges | $ | 2,359 | $ | 1,059 | $ | 2,669 | $ | 7,666 | $ | 4,283 | |||||||
Number of Times Fixed Charges are Earned | 5.0 | 2.3 | 5.5 | 10.5 | 4.5 | ||||||||||||
- (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.
Exhibit 12