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Previous: FORMICA CORP, 10-Q, 2000-08-14 |
Next: FORMICA CORP, 10-Q, EX-27, 2000-08-14 |
EXHIBIT 12
FORMICA CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio data)
Three-months ended Six-months ended
June 30, June 30,
------------------ -----------------
2000 1999 2000 1999
------ ------ ------ ------
Loss from continuing operations
before income taxes per
statement of operations (14.3) (3.6) (31.1) (13.1)
Add:
Portion of rents representative
of the interest factor 0.6 0.6 1.2 1.2
Interest on indebtedness and
amortization of debt expense 12.1 8.6 22.1 19.0
----- ----- ----- -----
Income as adjusted (1.6) 5.6 (7.8) 7.1
===== ===== ===== =====
Fixed Charges:
Interest on indebtedness and
amortization of debt
expense (1) 12.1 8.6 22.1 19.0
----- ----- ----- -----
Capitalized interest (2) -- -- -- --
----- ----- ----- -----
Rents 1.8 1.8 3.6 3.6
----- ----- ----- -----
Portion of rents representative
of the interest factor (3) 0.6 0.6 1.2 1.2
----- ----- ----- -----
Fixed Charges (1) + (2) + (3) 14.5 11.0 26.9 23.8
===== ===== ===== =====
Ratio of earnings to fixed
charges -- 0.51 -- 0.30
===== ===== ===== =====
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