Exhibit 12.1
HUNTSMAN INTERNATIONAL LLC
RATIO OF EARNINGS TO FIXED CHARGES
| |
Pro Forma |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
|
|
|
|
|
|
|
Huntsman Specialty Year Ended Dec. 31, 1998 |
Huntsman Specialty Ten Months Ended Dec. 31, 1997 |
Predecessor Two Months Ended Feb. 28, 1997 |
||||||||||||||||||||||||
| |
Six Months Ended June 30, 2002 |
Year Ended December 31, 2001 |
Six Months Ended June 30, 2002 |
Six Months Ended June 30, 2001 |
Year Ended Dec.31, 2001 |
Huntsman Int'l Year Ended Dec. 31, 2000 |
Huntsman Int'l Six Months Ended Dec. 31, 1999 |
Huntsman Specialty Six Months Ended June 30, 1999 |
||||||||||||||||||||||||||
| |
(dollars in millions) |
|||||||||||||||||||||||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||||||||||||
| Interest Expense (includes amortization of deferred financing costs) | $ | 109 | $ | 241 | $ | 107 | $ | 114 | $ | 228 | $ | 222 | $ | 104 | $ | 18 | $ | 40 | $ | 35 | $ | — | ||||||||||||
| Interest portion of rent expense | 3 | 6 | 3 | 3 | 6 | 7 | 5 | — | — | — | ||||||||||||||||||||||||
| Total Fixed Charges | $ | 112 | $ | 247 | $ | 110 | $ | 117 | $ | 234 | $ | 229 | $ | 109 | $ | 18 | $ | 40 | $ | 35 | $ | — | ||||||||||||
Earnings: |
||||||||||||||||||||||||||||||||||
| Income (loss) from operations before taxes | $ | (3 | ) | $ | (96 | ) | $ | (1 | ) | $ | 36 | $ | (83 | ) | $ | 184 | $ | 100 | $ | 35 | $ | 15 | $ | 5 | $ | (6 | ) | |||||||
| Fixed Charges: | 112 | 247 | 110 | 117 | 234 | 229 | 109 | 18 | 40 | 35 | — | |||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||||||||||
| Minority interest in pre-tax income of subsidiaries | — | (2 | ) | — | 1 | 2 | 3 | 1 | — | — | — | — | ||||||||||||||||||||||
| Total Earnings | $ | 109 | $ | 142 | $ | 109 | $ | 152 | $ | 149 | $ | 410 | $ | 208 | $ | 53 | $ | 55 | $ | 40 | $ | (6 | ) | |||||||||||
Ratio of Earnings to Fixed Charges |
— |
— |
— |
1.30 |
— |
1.8x |
1.9x |
2.9x |
1.4x |
1.1x |
— |
|||||||||||||||||||||||
| Deficiency of Earnings to Fixed Charges | $ | 3 | $ | 98 | $ | 1 | $ | 85 | — | — | — | — | — | $ | 6 | |||||||||||||||||||