EXHIBIT 12.2
Kronos International, Inc. and Subsidiaries
Statements of Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(In millions, except ratios)
Years ended December 31,
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2001 2002 2003 2004 2005
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Fixed charges:
Total interest expense $ 38.4 $ 35.4 $ 32.6 $ 36.7 $ 43.9
Interest component of rent expense(1) 2.1 2.4 3.0 2.7 2.8
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Total fixed charges 40.5 37.8 35.6 39.4 46.7
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Adjustments:
Income before income taxes and minority
interest 128.2 63.2 82.6 64.8 118.9
Amortization of capitalized interest .5 .5 .5 .5 .4
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Total adjustments 128.7 63.7 83.1 65.3 119.3
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Total earnings available for fixed
charges $ 169.2 $ 101.5 $ 118.7 $ 104.7 $ 166.0
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Ratio of earnings to combined
fixed charges (2) 4.2 2.7 3.3 2.7 3.6
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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.
(2) Computed as (y) total earnings available for fixed charges to (z) total
fixed charges.