1 EXHIBIT 12 CABOT CORPORATION AND CONSOLIDATED SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Amounts in millions, except ratios) Nine Months Years ended September 30 ended ------------------------------------------------------- June 30, 1998 1997 1996 1995 1994 1993 ------------- ------ ------ ------ ------ ------ Earnings: Pre-tax income from continuing $143.0 $117.0 $279.8 $256.0 $118.3 $ 67.9 operations Distributed income of affiliated 5.4 10.4 11.2 11.7 5.6 6.0 companies Add fixed charges: Interest on indebtedness 33.2 43.2 41.7 35.6 41.7 44.0 Portion of rents representative of the interest factor 3.7 4.9 4.8 5.5 5.9 4.9 ------ ------ ------ ------ ------ ------ Income as adjusted $185.3 $175.5 $337.5 $308.8 $171.5 $122.8 Fixed charges: Interest on indebtedness $ 33.2 $ 43.2 $ 41.7 $ 35.6 $ 41.7 $ 44.0 Capitalized interest - - - - - - Portion of rents representative of the interest factor 3.7 4.9 4.8 5.5 5.9 4.9 ------ ------ ------ ------ ------ ------ Total fixed charges $ 36.9 $ 48.1 $ 46.5 $ 41.1 $ 47.6 $ 48.9 Ratio of earnings to fixed charges 5.0 3.6 7.3 7.5 3.6 2.5 ====== ====== ====== ====== ====== ======