EXHIBIT 99
SOLUTIA INC.
COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
FOUR MONTHS THREE MONTHS
ENDED ENDED
DECEMBER 31, 1997(1) 1998 1999 2000 2001 MARCH 31, 2002
-------------------- ---- ---- ---- ---- --------------
Income (loss) from continuing operations,
before income taxes and equity earnings
(loss) from affiliates(2).............. $ 37 $350 $267 $ 6 $(64) $ 9
Add:
Fixed charges....................... 22 58 62 114 104 28
Amortization of capitalized
interest.......................... 2 7 7 7 7 2
Dividends from affiliated
companies......................... 14 37 60 45 30 --
Less:
Interest capitalized................ (4) (6) (13) (18) (2) --
---- ---- ---- ---- ---- ----
Income as adjusted............... $ 71 $446 $383 $154 $ 75 $ 39
==== ==== ==== ==== ==== ====
Fixed charges:
Interest expensed and capitalized... 19 49 53 101 92 25
Estimate of interest within
rental expense.................... 3 9 9 13 12 3
---- ---- ---- ---- ---- ----
Fixed charges.................... $ 22 $ 58 $ 62 $114 $104 $ 28
==== ==== ==== ==== ==== ====
Ratio of Earnings to Fixed Charges(3).... 3.23 7.69 6.18 1.35 0.72 1.39
==== ==== ==== ==== ==== ====
<FN>
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(1) We have not calculated the ratio of earnings to fixed charges for the periods before
September 1, 1997. Historical computation of earnings to fixed charges is not
considered meaningful before that date because we were not an independent company and
Monsanto Company did not allocate debt to us.
(2) Includes restructuring and other items of $58 million for the year ended December 31, 2001,
$107 million for the year ended December 31, 2000, $61 million for the year ended
December 31, 1999, and $72 million for the four months ended December 31, 1997.
(3) Earnings for the year ended December 31, 2001, would have to be $29 million higher in
order to achieve a one-to-one ratio.
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