Attached files
| file | filename |
|---|---|
| EX-24.1 - EX-24.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv24w1.htm |
| EX-31.1 - EX-31.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv31w1.htm |
| EX-10.1 - EX-10.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv10w1.htm |
| EX-32.1 - EX-32.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv32w1.htm |
| EX-31.2 - EX-31.2 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv31w2.htm |
| EX-23.2 - EX-23.2 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv23w2.htm |
| EX-21.1 - EX-21.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv21w1.htm |
| EX-23.1 - EX-23.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l38685exv23w1.htm |
| 10-K - FORM 10-K - GOODYEAR TIRE & RUBBER CO /OH/ | l38685e10vk.htm |
EXHIBIT 12.1
THE
GOODYEAR TIRE & RUBBER COMPANY AND SUBSIDIARIES
COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
|
(Dollars in millions) |
Year Ended December 31, | |||||||||||||||||||
| EARNINGS | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
|
Pre-tax (loss) income from continuing operations before
adjustment for minority interests in consolidated subsidiaries
or income or loss from equity investees
|
$ | (365 | ) | $ | 176 | $ | 436 | $ | (230 | ) | $ | 424 | ||||||||
|
Add:
|
||||||||||||||||||||
|
Amortization of previously capitalized interest
|
8 | 8 | 10 | 12 | 11 | |||||||||||||||
|
Distributed income of equity investees
|
3 | 3 | 3 | 5 | 7 | |||||||||||||||
|
Total additions
|
11 | 11 | 13 | 17 | 18 | |||||||||||||||
|
Deduct:
|
||||||||||||||||||||
|
Capitalized interest
|
14 | 23 | 10 | 7 | 7 | |||||||||||||||
|
Minority interest in pre-tax income of consolidated subsidiaries
with no fixed charges
|
4 | 11 | 14 | 8 | 12 | |||||||||||||||
|
Total deductions
|
18 | 34 | 24 | 15 | 19 | |||||||||||||||
|
TOTAL (LOSS) EARNINGS
|
$ | (372 | ) | $ | 153 | $ | 425 | $ | (228 | ) | $ | 423 | ||||||||
|
FIXED CHARGES
|
||||||||||||||||||||
|
Interest expense
|
$ | 311 | $ | 320 | $ | 470 | $ | 467 | $ | 426 | ||||||||||
|
Capitalized interest
|
14 | 23 | 10 | 7 | 7 | |||||||||||||||
|
Amortization of debt discount, premium or expense
|
16 | 17 | 26 | 21 | 29 | |||||||||||||||
|
Interest portion of rental expense(1)
|
105 | 105 | 101 | 98 | 94 | |||||||||||||||
|
Proportionate share of fixed charges of investees accounted for
by the equity method
|
1 | 1 | 1 | — | — | |||||||||||||||
|
TOTAL FIXED CHARGES
|
$ | 447 | $ | 466 | $ | 608 | $ | 593 | $ | 556 | ||||||||||
|
TOTAL (LOSS) EARNINGS BEFORE FIXED CHARGES
|
$ | 75 | $ | 619 | $ | 1,033 | $ | 365 | $ | 979 | ||||||||||
|
RATIO OF EARNINGS TO FIXED CHARGES
|
* | 1.33 | 1.70 | ** | 1.76 | |||||||||||||||
| * | Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $372 million. | |
| ** | Earnings for the year ended December 31, 2006 were inadequate to cover fixed charges. The coverage deficiency was $228 million. |
| (1) | Interest portion of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor. |