EXHIBIT 12.2
Kronos International, Inc. and Subsidiaries
Statements of Computation of Ratio of Earnings to
Fixed Charges
(Unaudited)
(In millions, except ratios)
Three months ended
Years ended December 31, March 31,
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2000 2001 2002 2003 2004 2004 2005
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Fixed charges:
Total interest expense $ 30.6 $ 38.4 $ 35.4 $ 32.6 $ 36.7 $ 9.0 $ 11.6
Interest component of rent expense (1) 2.2 2.1 2.4 3.0 2.7 .7 .7
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Total fixed charges 32.8 40.5 37.8 35.6 39.4 9.7 12.3
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Adjustments:
Income before income taxes and minority interest 123.0 128.2 63.2 82.6 64.8 17.1 30.0
Amortization of capitalized interest .5 .5 .5 .5 .5 .1 .1
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Total adjustments 123.5 128.7 63.7 83.1 65.3 17.2 30.1
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Total earnings available for fixed charges $ 156.3 $ 169.2 $ 101.5 $ 118.7 $ 104.7 $ 26.9 $ 42.4
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Ratio of earnings to fixed charges (2) 4.8 4.2 2.7 3.3 2.7 2.8 3.4
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(1) The interest expense component of rental expense is calculated as one-third
of the aggregate rent expense for each year, which is a reasonable
approximation of the interest factor.
(3) Computed as (y) total earnings available for fixed charges to (z) total
fixed charges.