Exhibit 12.1
TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Nine Months Ended September 30, | | | | |
| | | Years Ended December 31, | |
| | 2014 | | | 2013 | | | 2012 | | | 2011 | | | 2010 | | | 2009 | |
| | | | | (Dollars in Millions) | |
Net Income (loss) attributable to Tenneco Inc. Add: | | $ | 205 | | | $ | 183 | | | $ | 275 | | | $ | 157 | | | $ | 39 | | | $ | (73 | ) |
Interest expense | | | 58 | | | | 80 | | | | 105 | | | | 108 | | | | 149 | | | | 133 | |
Portion of rentals representative of the interest factor | | | 16 | | | | 19 | | | | 18 | | | | 17 | | | | 15 | | | | 14 | |
Income tax expense and other taxes on income | | | 117 | | | | 122 | | | | 19 | | | | 88 | | | | 69 | | | | 13 | |
Noncontrolling interests | | | 29 | | | | 39 | | | | 29 | | | | 26 | | | | 24 | | | | 19 | |
Amortization of interest capitalized | | | 3 | | | | 4 | | | | 4 | | | | 4 | | | | 4 | | | | 4 | |
Undistributed (earnings) losses of affiliated companies in which less than a 50% voting interest is owned | | | — | | | | — | | | | 1 | | | | — | | | | — | | | | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings as defined | | $ | 428 | | | $ | 447 | | | $ | 451 | | | $ | 400 | | | $ | 300 | | | $ | 112 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | $ | 58 | | | $ | 80 | | | $ | 105 | | | $ | 108 | | | $ | 149 | | | $ | 133 | |
Interest capitalized | | | 3 | | | | 4 | | | | 4 | | | | 4 | | | | 4 | | | | 4 | |
Portion of rentals representative of the interest factor | | | 16 | | | | 19 | | | | 18 | | | | 17 | | | | 15 | | | | 14 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Fixed charges as defined | | $ | 77 | | | $ | 103 | | | $ | 127 | | | $ | 129 | | | $ | 168 | | | $ | 151 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of earnings to fixed charges | | | 5.56 | | | | 4.34 | | | | 3.55 | | | | 3.10 | | | | 1.79 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
NOTE: Earnings were inadequate to cover fixed charges by $39 million for the year ended December 31, 2009.