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EXHIBIT 12.2
THE B.F.GOODRICH COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(In millions, except for ratios)
THREE MONTHS YEAR ENDED DECEMBER 31,
ENDED ----------------------------------------------------
MARCH 31, 1995 1994 1993 1992 1991 1990
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COMPUTATION OF EARNINGS:
Income from continuing operations before
income taxes and cumulative effect of
change in accounting method $28.6 $108.6 $15.3 $14.4 $44.1 $104.2
Add (Deduct):
Interest expense, net of capitalized interest 15.0 58.0 48.9 48.2 42.3 23.5
Amortization of interest previously capitalized 0.3 0.8 0.5 0.5 0.3 0.3
Portion of rent expense representative of
an interest factor 1.9 8.3 7.6 8.0 7.6 6.8
Equity of (earnings) losses of affiliates
accounted for on the equity method 0.3 0.8 0.9 0.9 0.7 0.1
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EARNINGS AS ADJUSTED $46.1 $176.5 $73.2 $72.0 $95.0 $134.9
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COMPUTATION OF FIXED CHARGES
AND PREFERRED DIVIDENDS:
Preferred dividend requirements $ 1.9 $ 8.0 $ 8.2 $ 8.3 $ 8.3 $ 8.5
Greater of effective federal income tax rate of
statutory income tax rate* 38.5% 39.5% 35.0% 34.0% 51.0% 34.0%
Preferred dividend requirements on a pretax basis 3.1 13.2 12.6 12.6 16.9 12.9
Interest expense, net of capitalized interest 15.0 58.0 48.9 48.2 42.3 23.5
Portion of rent expense representative of
an interest factor 1.9 8.3 7.6 8.0 7.6 6.8
Capitalized interest 0.3 0.6 5.0 3.8 2.1 1.6
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FIXED CHARGES AND PREFERRED DIVIDEND $20.3 $ 80.1 $74.1 $72.6 $68.9 $ 44.8
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RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS 2.27 2.20 1.38 3.01
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DEFICIENCY $(0.9) $(0.6)
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* The Company's effective tax rate was lower than the statutory rate in 1990, 1992 and 1993. Therefore, for purposes of this
computation, the statutory tax rate was used in 1990, 1992 and 1993.
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THE B.F.GOODRICH COMPANY
COMPUTATION OF PRO FORMA RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED DIVIDENDS
(In millions, except for ratios)
The following computations for the three months ended March 31, 1995 and the
year ended December 31, 1994 reflect, on a pro forma basis, earnings available
for fixed charges and preferred dividends, fixed charges and preferred
dividends, and the resultant ratio.
THREE MONTHS YEAR ENDED
ENDED DECEMBER 31,
MARCH 31, 1995 1994
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EARNINGS AS ADJUSTED $46.1 $176.5
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FIXED CHARGES AND PREFERRED DIVIDEND $20.3 $ 80.1
Pro forma adjustments
Dividend requirement of the quarterly income
preferred securities offered hereby 2.3 9.4
Dividend reduction attributable to the
retirement of the Series D preferred stock (3.1) (13.2)
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PRO FORMA FIXED CHARGES AND
PREFERRED DIVIDENDS $19.5 $ 76.3
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PRO FORMA RATIO OF EARNINGS TO FIXED
CHARGES AND PREFERRED DIVIDENDS 2.36 2.31
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