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EXHIBIT 12
FERRO CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
MARCH MARCH
(DOLLARS IN THOUSANDS) 2001 2000
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EARNINGS:
PRE-TAX INCOME 21,879 29,469
ADD: FIXED CHARGES 8,761 6,279
LESS: INTEREST CAPITALIZATION (270) (139)
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TOTAL EARNINGS 30,370 35,609
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FIXED CHARGES:
INTEREST EXPENSE 7,848 5,626
INTEREST CAPITALIZATION 270 139
INTEREST PORTION OF RENTAL EXPENSE 643 514
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TOTAL FIXED CHARGES 8,761 6,279
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TOTAL EARNINGS 30,370 35,609
DIVIDED BY:
TOTAL FIXED CHARGES 8,761 6,279
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RATIO 3.47 5.67
NOTE: PREFERRED DIVIDENDS ARE EXCLUDED. AMORTIZATION OF DEBT EXPENSE AND
DISCOUNTS AND PREMIUMS WERE DEEMED IMMATERIAL TO THE ABOVE CALCULATION.
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