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 | ||||||||||||||||||
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Earnings as defined | $ | 428 | $ | 447 | $ | 451 | $ | 400 | $ | 300 | $ | 112 | ||||||||||||
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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 | ||||||||||||||||||
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Fixed charges as defined | $ | 77 | $ | 103 | $ | 127 | $ | 129 | $ | 168 | $ | 151 | ||||||||||||
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Ratio of earnings to fixed charges | 5.56 | 4.34 | 3.55 | 3.10 | 1.79 | — | ||||||||||||||||||
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NOTE: Earnings were inadequate to cover fixed charges by $39 million for the year ended December 31, 2009.