EXHIBIT 12.1
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
| |
Three Months Ended March 31, 2005 |
Three Months Ended March 31, 2004 |
Year Ended Dec. 31, 2004 |
Year Ended Dec. 31, 2003 |
Year Ended Dec. 31, 2002 |
Year Ended Dec. 31, 2001 |
Year Ended Dec. 31, 2000 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed charges: | |||||||||||||||||||||||
| Interest expensed and capitalized (includes amortization of deferred financing costs) | $ | 65.2 | $ | 69.6 | $ | 258.7 | $ | 255.9 | $ | 255.9 | $ | 248.9 | $ | 243.4 | |||||||||
| Interest portion of rent expense | 0.7 | 0.8 | 3.0 | 3.7 | 5.3 | 6.2 | 7.9 | ||||||||||||||||
| Total fixed charges | $ | 65.9 | $ | 70.4 | $ | 261.7 | $ | 259.6 | $ | 261.2 | $ | 255.1 | $ | 251.3 | |||||||||
| Earnings: | |||||||||||||||||||||||
| Pretax income (loss) from continuing operations before minority interest and equity income (loss) | $ | 150.4 | $ | (33.3 | ) | $ | (108.1 | ) | $ | (109.3 | ) | $ | (21.5 | ) | $ | (83.2 | ) | $ | 183.6 | ||||
| Fixed charges | 65.9 | 70.4 | 261.7 | 259.6 | 261.2 | 255.1 | 251.3 | ||||||||||||||||
| Amortization of capitalized interest | 1.1 | 1.0 | 4.3 | 3.9 | 3.2 | 2.3 | 1.4 | ||||||||||||||||
| Less: | |||||||||||||||||||||||
| Interest capitalized | (1.4 | ) | (0.6 | ) | (4.5 | ) | (4.4 | ) | (10.5 | ) | (9.3 | ) | (10.3 | ) | |||||||||
| Total earnings plus fixed charges | $ | 216.0 | $ | 37.5 | $ | 153.4 | $ | 149.8 | $ | 232.4 | $ | 164.9 | $ | 426.0 | |||||||||
| Ratio of earnings to fixed charges | 3.3 | — | — | — | — | — | 1.7 | ||||||||||||||||
| Deficiency of earnings to fixed charges | $ | — | $ | 32.9 | $ | 108.3 | $ | 109.8 | $ | 28.8 | $ | 90.2 | $ | — | |||||||||