1 EXHIBIT 12 CABOT CORPORATION AND CONSOLIDATED SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in thousands) Nine Months Years ended September 30 ended ----------------------------------------------------------------- June 30, 1997 1996 1995 1994 1993 1992 ------------- ---- ---- ---- ---- ---- Earnings: Pre-tax income from continuing operations $112,431 $279,834 $256,029 $118,325 $ 67,900 $116,599 Distributed income of affiliated companies 8,640 11,173 11,699 5,638 5,988 5,766 Add fixed charges: Interest on indebtedness 31,607 41,718 35,639 41,668 44,043 41,714 Portion of rents representative of the interest factor 3,628 4,837 5,515 5,879 4,838 4,933 -------- -------- -------- -------- -------- -------- Income as adjusted $156,306 $337,562 $308,882 $171,510 $122,769 $169,012 Fixed charges: Interest on indebtedness $ 31,607 $ 41,718 $ 35,639 $ 41,668 $ 44,043 $ 41,714 Capitalized interest 3,963 Portion of rents representative of the interest factor 3,628 4,837 5,515 5,879 4,838 4,933 -------- -------- -------- -------- -------- -------- Total fixed charges $ 35,235 $ 46,555 $ 41,154 $ 47,547 $ 48,881 $ 50,610 Ratio of earnings to fixed charges 4.44 7.25 7.51 3.61 2.51 3.34 ======== ======== ======== ======== ======== ========