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 ----------------------------------------------- 1999 1998 1997 1996 1995 ------ ------ ------ ------ ------ Earnings: Pre-tax income from continuing operations $135.7 $168.0 $117.0 $279.8 $256.0 Distributed income of affiliated companies 19.9 7.5 10.4 11.2 11.7 Add fixed charges: Interest on indebtedness 45.8 42.0 43.2 41.7 35.6 Portion of rents representative of the interest factor 4.8 5.1 4.9 4.8 5.5 ------ ------ ------ ------ ------ Income as adjusted $206.2 $222.6 $175.5 $337.5 $308.8 Fixed charges: Interest on indebtedness $ 45.8 $ 42.0 $ 43.2 $ 41.7 $ 35.6 Capitalized interest -- -- -- -- -- Portion of rents representative of the interest factor 4.8 5.1 4.9 4.8 5.5 ------ ------ ------ ------ ------ Total fixed charges $ 50.6 $ 47.1 $ 48.1 $ 46.5 $ 41.1 Ratio of earnings to fixed charges 4.1 4.7 3.6 7.3 7.5 ====== ====== ====== ====== =======