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Previous: JOHNS MANVILLE CORP /NEW/, S-4, 2000-07-31 |
Next: JOHNS MANVILLE CORP /NEW/, S-4, EX-23.1, 2000-07-31 |
<PAGE> 1
EXHIBIT 12.1
JOHNS MANVILLE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS
(In thousands of dollars)
<TABLE>
<CAPTION>
Three Three
Months Ended Months Ended
Years Ended December 31, ------------ ------------
------------------------------------------------------------- March 31, March 31,
1999 1998 1997 1996 1995 2000 1999
--------- --------- --------- --------- --------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Pre-tax income from continuing
operations before income or loss
from equity investees $ 322,988 $ 249,910 $ 173,544 $ 149,024 $ 222,682 $ 69,730 $ 57,791
--------- --------- --------- --------- --------- --------- ---------
Fixed Charges:
Interest expense 33,074 38,024 52,053 50,807 50,282 8,009 7,974
Appropriate portion (1/3)
of rentals 4,467 4,667 4,167 3,967 4,867 1,038 1,125
--------- --------- --------- --------- --------- --------- ---------
Total fixed charges 37,541 42,691 56,220 54,774 55,149 9,047 9,099
========= ========= ========= ========= ========= ========= =========
Pre-tax income from continuing
operations before income or loss
from equity investees plus fixed
charges $ 360,529 $ 292,601 $ 229,764 $ 203,798 $ 277,831 $ 78,777 $ 66,890
========= ========= ========= ========= ========= ========= =========
Preferred dividend requirements $ 8,215 $ 24,923
Ratio of pretax income to net income 1.67 1.67
--------- ---------
13,692 41,538
Adjusted preferred dividends
Total fixed charges 37,541 42,691 56,220 54,774 55,149 9,047 9,099
--------- --------- --------- --------- --------- --------- ---------
Total fixed charges and preferred $ 37,541 $ 42,691 $ 56,220 $ 68,466 $ 96,687 $ 9,047 $ 9,099
dividends ========= ========= ========= ========= ========= ========= =========
Ratio of earnings to combined fixed
charges and preferred dividends 9.60 6.85 4.09 2.98 2.87 8.71 7.35
========= ========= ========= ========= ========= ========= =========
</TABLE>
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