The Goodyear Tire & Rubber Company (GT) 10-Q 2009 Q2 Quarterly report

EXHIBIT 12.1

THE GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	6 Months
	Ended
(Dollars in millions)	June 30,			12 Months Ended December 31,
	2009			2008		2007		2006			2005		2004
EARNINGS
Pre-tax (loss) income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees	$	(637	)	$	176	$	436	$	(230	)	$	424	$	218
Add:
Amortization of previously capitalized interest		4			8		10		12			11		11
Distributed income of equity investees		3			3		3		5			7		3
Total additions		7			11		13		17			18		14
Deduct:
Capitalized interest		5			23		10		7			7		7
Minority interest in pre-tax income of consolidated subsidiaries with no fixed charges		3			11		14		8			12		11
Total deductions		8			34		24		15			19		18
TOTAL (LOSS) EARNINGS	$	(638	)	$	153	$	425	$	(228	)	$	423	$	214
FIXED CHARGES
Interest expense	$	143		$	320	$	470	$	467		$	426	$	376
Capitalized interest		5			23		10		7			7		7
Amortization of debt discount, premium or expense		7			17		26		21			29		62
Interest portion of rental expense(1)		53			105		101		98			94		91
Proportionate share of fixed charges of investees accounted for by the equity method		1			1		1		—			—		—
TOTAL FIXED CHARGES	$	209		$	466	$	608	$	593		$	556	$	536
TOTAL (LOSS) EARNINGS BEFORE FIXED CHARGES	$	(429	)	$	619	$	1,033	$	365		$	979	$	750
RATIO OF EARNINGS TO FIXED CHARGES		*			1.33		1.70		*	*		1.76		1.40

*	Earnings for the six months ended June 30, 2009 were inadequate to cover fixed charges. The coverage deficiency was $638 million.
**	Earnings for the year ended December 31, 2006 were inadequate to cover fixed charges. The coverage deficiency was $228 million.
(1)	Interest portion of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.