Calculation of Fixed Charge Ratio
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Pro forma |
Huntsman International |
Huntsman Specialty |
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Six Months Ended June 30, 2003 |
Year Ended Dec. 31, 2002 |
Six Months Ended June 30, 2003 |
Six Months Ended June 30, 2002 |
Year Ended Dec. 31, 2002 |
Year Ended Dec. 31, 2001 |
Year Ended Dec. 31, 2000 |
Six Months Ended Dec. 31, 1999 |
Six Months Ended June 30, 1999 |
Year Ended Dec. 31, 1998 |
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(Dollars in millions) |
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| Fixed Charges: | |||||||||||||||||||||||||||||||
| Interest expense (includes amortization of deferred financing costs) | $ | 130.8 | $ | 249.2 | $ | 127.7 | $ | 114.7 | $ | 245.4 | $ | 239.6 | $ | 233.1 | $ | 104.0 | $ | 18.0 | $ | 39.9 | |||||||||||
| Interest portion of rent expense | 2.6 | 5.3 | 2.6 | 2.6 | 5.3 | 6.2 | 7.9 | 5.9 | 0.7 | 1.9 | |||||||||||||||||||||
| Total Fixed Charges | $ | 133.4 | $ | 254.5 | $ | 130.3 | $ | 117.3 | $ | 250.7 | $ | 245.8 | $ | 241.0 | $ | 109.9 | $ | 18.7 | $ | 41.8 | |||||||||||
| Earnings: | |||||||||||||||||||||||||||||||
| Income (loss) from operations before taxes | (87.7 | ) | (25.3 | ) | (93.3 | ) | (1.5 | ) | (21.5 | ) | (83.2 | ) | 183.6 | 99.8 | 34.6 | 15.2 | |||||||||||||||
| Fixed Charges: | 133.4 | 254.5 | 130.3 | 117.3 | 250.7 | 245.8 | 241.0 | 109.9 | 18.7 | 41.8 | |||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||
| Minority interest in pre-tax income of subsidiaries | — | — | — | 0.2 | (0.1 | ) | 2.2 | 2.8 | 1.0 | — | — | ||||||||||||||||||||
| Total Earnings Plus Fixed Charges | $ | 45.7 | $ | 229.2 | $ | 37.0 | $ | 115.6 | $ | 229.3 | $ | 160.4 | $ | 421.8 | $ | 208.7 | $ | 53.3 | $ | 57.0 | |||||||||||
| Ratio of Earnings to Fixed Charges | — | — | — | — | — | — | 1.8 | 1.9 | 2.9 | 1.4 | |||||||||||||||||||||
| Deficiency of Earnings to Fixed Charges | $ | 87.7 | $ | 25.3 | $ | 93.3 | $ | 1.7 | $ | 21.4 | $ | 85.4 | |||||||||||||||||||