EXHIBIT 12 PENNZOIL-QUAKER STATE COMPANY COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES <Table> <Caption> For the three months ended March 31, -------------------------- 2002 2001 ---------- ---------- (Dollar amounts expressed in thousands) Income before income from equity investees $ 7,522 $ 2,100 Distribution of income from equity investees 46 -- Amortization of capitalized interest 37 213 Income tax provision 14,332 6,756 Interest charges 30,065 31,869 ---------- ---------- Income before income tax provision and interest charges $ 52,002 $ 40,938 ========== ========== Fixed charges $ 30,065 $ 31,869 ========== ========== Ratio of earnings to fixed charges 1.73 1.28 ========== ========== </Table> DETAIL OF INTEREST AND FIXED CHARGES <Table> <Caption> For the three months ended March 31, -------------------------- 2002 2001 ---------- ---------- (Expressed in thousands) Interest charges per Consolidated Statement of Operations which includes amortization of debt discount, expense and premium $ 22,832 $ 24,712 Add: portion of rental expense representative of interest factor (1) 7,233 7,157 ---------- ---------- Total fixed charges $ 30,065 $ 31,869 Less: interest capitalized per Consolidated Statement of Operations -- -- ---------- ---------- Total interest charges $ 30,065 $ 31,869 ========== ========== </Table> (1) Interest factor based on management's estimates and approximates one-third of rental expense.