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Previous: SOLUTIA INC, 10-Q, EX-27, 2000-10-27 |
Next: MERRILL LYNCH GLOBAL GROWTH FUND INC, NSAR-B, 2000-10-27 |
<PAGE>
<TABLE>
EXHIBIT 99
SOLUTIA INC.
CALCULATION OF THE RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
<CAPTION>
FOUR MONTHS NINE MONTHS
ENDED ENDED
DECEMBER 31, 1997<F1> 1998 1999 SEPTEMBER 30, 2000
--------------------- ---- ---- ------------------
<S> <C> <C> <C> <C>
Income from continuing operations,
before income taxes and equity
earnings from affiliates<F2>....... $ 37 $350 $267 $161
Add:
Fixed charges.................... 22 58 62 85
Amortization of capitalized
interest....................... 2 7 7 5
Dividends from affiliated
companies...................... 14 37 60 83
Less:
Interest capitalized............. (4) (6) (13) (15)
----- ---- ---- ----
Income as adjusted........... $ 71 $446 $383 $319
===== ==== ==== ====
Fixed charges
Interest expensed and
capitalized.................... 19 49 53 78
Amortization of debt premium..... -- -- -- --
Estimate of interest within
rental expense................. 3 9 9 7
----- ---- ---- ----
Fixed charges................ $ 22 $ 58 $ 62 $ 85
===== ==== ==== ====
Ratio of Earnings to Fixed Charges... 3.23 7.69 6.18 3.75
===== ==== ==== ====
<FN>
<F1> 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 the former Monsanto Company did not allocate debt to us.
<F2> Includes restructuring and other unusual items of $41 million,
$63 million, and $72 million for the nine months ended
September 30, 2000, the year ended December 31, 1999, and the
four months ended December 31, 1997, respectively.
</TABLE>
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