EXHIBIT 12
TENNECO INC. AND CONSOLIDATED SUBSIDIARIES
COMBINED WITH 50% OWNED UNCONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(MILLIONS)
THREE
MONTHS
ENDED
MARCH 31,
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1994 1993
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Income from operations before cumulative effect of change in
accounting principle............................................ $ 122 $ 74
Add:
Interest....................................................... 162 210
Portion of rentals representative of interest factor........... 17 18
Income tax expense and other taxes on income................... 76 73
Amortization of interest capitalized applicable to non-utility
companies..................................................... 2 3
Undistributed earnings of affiliated companies in which less
than a 50% voting interest is owned........................... (3) (3)
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Earnings as defined.......................................... $ 376 $ 375
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Interest......................................................... $ 162 $ 210
Interest capitalized............................................. 2 1
Portion of rentals representative of interest factor............. 17 18
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Fixed charges as defined..................................... $ 181 $ 229
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Ratio of earnings to fixed charges............................... 2.08 1.64
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