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EXHIBIT 12
MASCOTECH, INC.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>
9 MONTHS
ENDED FOR THE YEARS ENDED DECEMBER 31
SEP. 30, ----------------------------------------------------------------
2000 1999 1998 1997 1996 1995
---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C>
EARNINGS (LOSS) BEFORE INCOME
TAXES AND FIXED CHARGES:
Income from continuing
operations before income
taxes and cumulative
effect of accounting
change, net ................. $ 115,350 $ 139,470 $ 144,520 $ 190,290 $ 77,220 $ 100,280
Deduct equity in
undistributed earnings
of less-than-fifty
percent owned companies ..... (8,690) (9,800) (8,530) (46,030) (31,650) (29,590)
Add interest on
indebtedness, net ........... 64,640 80,660 81,280 36,650 30,350 51,500
Add amortization of debt
expense ..................... 2,020 2,740 3,250 900 1,490 1,670
Estimated interest factor
for rentals ................. 2,700 3,710 3,620 2,100 6,350 7,070
--------- --------- --------- --------- --------- ---------
Earnings before income
taxes and fixed charges ..... $ 176,020 $ 216,780 $ 224,140 $ 183,910 $ 83,760 $ 130,930
========= ========= ========= ========= ========= =========
FIXED CHARGES:
Interest on indebtedness,
net ......................... $ 64,800 $ 80,950 $ 81,740 $ 36,770 $ 30,590 $ 51,690
Amortization of debt
expense ..................... 2,020 2,740 3,250 900 1,490 1,670
Estimated interest factor
for rentals ................. 2,700 3,710 3,620 2,100 6,350 7,070
--------- --------- --------- --------- --------- ---------
Total fixed charges ....... 69,520 87,400 88,610 39,770 38,430 60,430
--------- --------- --------- --------- --------- ---------
Preferred stock dividend
requirement (a) ............. -- -- -- 10,300 21,570 21,970
--------- --------- --------- --------- --------- ---------
Combined fixed charges and
preferred stock dividends ... $ 69,520 $ 87,400 $ 88,610 $ 50,070 $ 60,000 $ 82,400
========= ========= ========= ========= ========= =========
RATIO OF EARNINGS TO
FIXED CHARGES ............... 2.5 2.5 2.5 4.6 2.2 2.2
=== === === === === ===
RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS ............. 2.5 2.5 2.5 3.7 1.4 1.6
=== === === === === ===
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(a) Represents amount of income before provision for income taxes required to
meet the preferred stock dividend requirements of the Company and its 50%
owned companies.
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