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EXHIBIT 12-1
FOSTER WHEELER CORPORATION
STATEMENT OF COMPUTATION OF CONSOLIDATED RATIO OF
EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES
($000'S)
UNAUDITED
6 months
2000
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EARNINGS:
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Net earnings $ 17,019
Taxes on income 9,232
Total fixed charges 51,494
Capitalized interest (2,983)
Capitalized interest amortized 1,092
Equity earnings of non-consolidated associated
companies accounted for
by the equity method, net of dividends (3,534)
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$ 72,320
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FIXED CHARGES:
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Interest expense (includes dividend on
preferred security of $7,875) $ 38,921
Capitalized interest 2,983
Imputed Interest on non-capitalized lease payment 9,590
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$ 51,494
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Ratio of Earnings to Fixed Charges 1.40
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Note: There were no preferred shares outstanding during the period indicated
and, therefore, the consolidated ratio of earnings to fixed charges and combined
fixed charges and preferred share dividend requirements would have been the same
as the consolidated ratio of earnings to fixed charges and combined fixed
charges for the period indicated.
This calculation does not relate to the amended and restated Revolving Credit
Agreement covenants.
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