LUBRIZOL CORP - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 26, 2010

Attached files

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EX-4.7 - FORM OF $450,000,000 5.5% NOTES DUE 2014 - LUBRIZOL CORPdex47.htm
EX-4.8 - FORM OF $300,000,000 6.5% DEBENTURES DUE 2034 - LUBRIZOL CORPdex48.htm
EX-10.5 - LETTER AMENDMENT NO. 1 DATED AUGUST 23, 2005 TO THE CREDIT AGREEMENT - LUBRIZOL CORPdex105.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - LUBRIZOL CORPdex311.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - LUBRIZOL CORPdex312.htm
EX-32.1 - SECTION 906 CEO AND CFO CERTIFICATION - LUBRIZOL CORPdex321.htm
EX-21.1 - LIST OF SIGNIFICANT SUBSIDIARIES OF THE LUBRIZOL CORPORATION - LUBRIZOL CORPdex211.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - LUBRIZOL CORPdex231.htm
EX-10.9 - FORM OF ANNUAL INCENTIVE PAY PLAN AWARD LETTER - LUBRIZOL CORPdex109.htm
EX-10.7 - CREDIT AGREEMENT DATED AS OF AUGUST 24, 2004 - LUBRIZOL CORPdex107.htm
EX-10.30 - 1991 STOCK INCENTIVE PLAN, AS AMENDED NOVEMBER 15, 2004 - LUBRIZOL CORPdex1030.htm
EX-10.10 - 2005 OFFICERS' SUPPLEMENTAL RETIREMENT PLAN, AS AMENDED AND RESTATED - LUBRIZOL CORPdex1010.htm
EX-10.33 - EXECUTIVE COUNCIL DEFERRED COMPENSATION PLAN, AS AMENDED NOVEMBER 15, 2004 - LUBRIZOL CORPdex1033.htm
EX-10.32 - DEFERRED COMPENSATION PLAN FOR OFFICERS, AS AMENDED NOVEMBER 15, 2004 - LUBRIZOL CORPdex1032.htm
EX-10.28 - EXCESS DEFINED CONTRIBUTION PLAN, AS AMENDED DECEMBER 13, 2004 - LUBRIZOL CORPdex1028.htm
EX-10.29 - OFFICERS' SUPPLEMENTAL RETIREMENT PLAN, AS AMENDED DECEMBER 13, 2004 - LUBRIZOL CORPdex1029.htm
EX-4.4 - AMENDED AND RESTATED INDENTURE DATED SEPTEMBER 28, 2004 - LUBRIZOL CORPdex44.htm
EX-10.27 - EXCESS DEFINED BENEFIT PLAN, AS AMENDED DECEMBER 13, 2004 - LUBRIZOL CORPdex1027.htm
EX-10.34 - DEFERRED STOCK COMPENSATION PLAN FOR OUTSIDE DIRECTORS, AS AMENDED - LUBRIZOL CORPdex1034.htm
10-K - FORM 10-K - LUBRIZOL CORPd10k.htm
EX-10.31 - AMENDED DEFERRED COMPENSATION PLAN FOR DIRECTORS, AS AMENDED NOVEMBER 15, 2004 - LUBRIZOL CORPdex1031.htm

Exhibit 12.1

THE LUBRIZOL CORPORATION AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(all amounts except ratios are shown in millions)

 

     2009     2008     2007     2006     2005  

Pretax income from continuing operations

    $ 725.8      $ 17.0      $ 405.4      $ 266.1      $ 241.9   

Add (deduct) earnings of less than 50% owned affiliates (net of distributed earnings) included in pretax income

      (0.2 )      (0.9 )      (0.3 )      (0.8 )      0.1   

Add fixed charges net of capitalized interest

      120.5        89.5        101.4        108.5        114.9   

Add previously capitalized interest amortized during period

      1.5        0.9        0.7        1.0        1.1   

Less the noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

      (13.4 )      (7.2 )      (6.4 )      (4.1 )      (1.7 ) 
                                        

"Earnings"

    $ 834.2      $ 99.3      $ 500.7      $ 370.7      $ 356.3   
                                        

Gross interest expense including capitalized interest

    $ 113.0      $ 82.2      $ 93.5      $ 101.2      $ 105.8   

Interest portion of rental expense

      10.0        11.4        9.6        8.8        9.8   
                                        

"Fixed charges"

    $ 123.0      $ 93.6      $ 103.1      $ 110.0      $ 115.6   
                                        

Ratio of earnings to fixed charges

      6.78        1.06        4.86        3.37        3.08   
                                        

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