EXHIBIT 12 CABOT CORPORATION AND CONSOLIDATED SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Amounts in millions, except ratios) Years ended September 30 ------------------------ 2004 2003 2002 2001 2000 ---- ---- ---- ---- ---- Earnings: Pre-tax income from continuing operations $164 $94 $134 $150 $157 Distributed income of affiliated companies 2 3 3 11 8 Add fixed charges: Interest on indebtedness 30 28 28 32 33 Portion of rents representative of the interest factor 3 4 4 4 4 Preferred stock dividend 3 3 3 3 3 Income as adjusted $202 $132 $172 $200 $205 Fixed charges: Interest on indebtedness $30 $28 $28 $32 $33 Capitalized interest -- -- 2 1 -- Portion of rents representative of the interest factor 3 4 4 4 4 Preferred stock dividend 3 3 3 3 3 Total fixed charges $36 $35 $37 $40 $40 Ratio of earnings to fixed charges 6 4 5 5 5