Exhibit 12
CELANESE CORPORATION
COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES
Predecessor | Successor | |||||||||||||||||||||||||
Year Ended December 31, | Three Months Ended March 31, 2004 | Nine Months Ended December 31, 2004 | Year Ended December 31, 2005 | |||||||||||||||||||||||
2001 | 2002 | 2003 | ||||||||||||||||||||||||
(in $ millions, except ratio of earnings to combined fixed charges) | ||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||
Earnings (loss) from continuing operations before tax and minority interest | (378 | ) | 168 | 172 | 67 | (180 | ) | 362 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||||
Equity in net earnings of affiliates | (12 | ) | (21 | ) | (35 | ) | (12 | ) | (36 | ) | (61 | ) | ||||||||||||||
Plus: | ||||||||||||||||||||||||||
Income distributions from equity investments | 19 | 61 | 23 | 16 | 22 | 66 | ||||||||||||||||||||
Amortization of capitalized interest | 9 | 10 | 14 | 2 | 1 | 3 | ||||||||||||||||||||
Total fixed charges | 104 | 89 | 72 | 16 | 333 | 454 | ||||||||||||||||||||
Total earnings as defined before combined fixed charges | (258 | ) | 307 | 246 | 89 | 140 | 824 | |||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||
Interest expense | 72 | 55 | 49 | 6 | 300 | 387 | ||||||||||||||||||||
Capitalized interest | 4 | 6 | 3 | 3 | 4 | 4 | ||||||||||||||||||||
Estimated interest portion of rent expense | 28 | 28 | 20 | 7 | 21 | 31 | ||||||||||||||||||||
Cumulative undeclared and declared preferred stock dividends | — | — | — | — | — | 10 | ||||||||||||||||||||
Guaranteed payment to minority shareholders | — | — | — | — | 8 | 22 | ||||||||||||||||||||
Total combined fixed charges | 104 | 89 | 72 | 16 | 333 | 454 | ||||||||||||||||||||
Ratio of earnings to combined fixed charges | — | 3.4 | 3.4 | 5.6 | — | 1.8 | ||||||||||||||||||||
Excess (Deficiency) | (362 | ) | 218 | 174 | 73 | (193 | ) | 370 | ||||||||||||||||||