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<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 23, 1995
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THE LUBRIZOL CORPORATION
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Ohio 1-5263 34-0367600
- ---------------------------- -------------- ---------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
29400 Lakeland Boulevard, Wickliffe, Ohio 44092
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 216-943-4200
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<PAGE> 2
Item 5. Other Events
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Attached hereto as Exhibit 12 is a statement setting forth the computation of
the ratio of earnings to fixed charges for each of the five years in the period
ended December 31, 1994 and for the three month periods ended March 31, 1995
and 1994.
THE LUBRIZOL CORPORATION
/s/Gregory P. Lieb
--------------------------------
Gregory P. Lieb
Chief Accounting Officer and
Duly Authorized Signatory of
The Lubrizol Corporation
June 23, 1995
<PAGE> 1
<TABLE>
EXHIBIT 12
THE LUBRIZOL CORPORATION AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(all amounts except ratios are shown in thousands)
<CAPTION>
Three Months Ended Year Ended December 31,
------------------- ----------------------------------------------------------------------
3/31/95 3/31/94 1994 1993 1992 1991 1990
------- ------- -------- -------- -------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Pretax income $73,668 $63,848 $251,459 $119,651 $177,144 $178,140 $271,212
Deduct earnings of less than
50% owned affiliates (net of
distributed earnings)
included in pretax income (3,331) (3,861) (871) (2,354) 9 (3,796) (3,659)
Add losses of less than 50%
owned affiliates included
in pretax income 165 490 20,492 2,783 53 482
Add fixed charges excluding
capitalized interest 2,074 832 3,149 4,154 3,615 7,738 6,049
Add previously capitalized
interest amortized during
period 452 268 162 96 6
------- ------- -------- -------- -------- ------- --------
"Earnings" $72,576 $60,819 $254,679 $142,211 $183,713 $182,231 $274,090
======= ======= ======== ======== ======== ======== ========
Gross interest expense
including capitalized
interest ("Fixed Charges") $ 2,884 $ 1,585 $ 6,922 $ 6,292 $ 4,981 $ 9,049 $ 7,070
Ratio of earnings to fixed
charges 25.2 38.4 36.8 22.6 36.9 20.1 38.8
Special Adjustments
- -------------------
"Earnings" $72,576 $60,819 $254,679 $142,211 $183,713 $182,231 $274,090
Plus special charges 86,303
Less Genentech gain (13,106) (11,512) (41,235) (42,443) (101,921)
Plus Agribusiness write-off 9,734
------- ------- -------- -------- -------- ------- --------
Adjusted "earnings" $59,470 $49,307 $213,444 $186,071 $183,713 $182,231 $181,903
======= ======= ======== ======== ======== ======== ========
Ratio of adjusted earnings
to fixed charges 20.6 31.1 30.8 29.6 36.9 20.1 25.7
</TABLE>
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