1 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 ------------------------------------- 1998 1997 1996 1995 1994 ----- ------ ------ ------ ------ Earnings: Pre-tax income from continuing operations 168.0 $117.0 $279.8 $256.0 $118.3 Distributed income of affiliated companies 7.5 10.4 11.2 11.7 5.6 Add fixed charges: Interest on indebtedness 42.0 43.2 41.7 35.6 41.7 Portion of rents representative of the interest factor 5.1 4.9 4.8 5.5 5.9 ----- ------ ------ ------ ------ Income as adjusted 222.6 $175.5 $337.5 $308.8 $171.5 Fixed charges: Interest on indebtedness 42.0 $ 43.2 $ 41.7 $ 35.6 $ 41.7 Capitalized interest - - - - - Portion of rents representative of the interest factor 5.1 4.9 4.8 5.5 5.9 ----- ------ ------ ------ ------ Total fixed charges 47.1 $ 48.1 $ 46.5 $ 41.1 $ 47.6 Ratio of earnings to fixed charges 4.7 3.6 7.3 7.5 3.6 ===== ====== ====== ====== ======