This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Ratio of earnings to fixed charges
For the purpose of computing this ratio, earnings consist of the income from continuing operations before taxation of Group companies and income received from companies owned 50% or less, plus fixed charges excluding capitalised interest. Fixed charges consist of interest (including capitalised interest) on all indebtedness, amortisation of debt discount and expense and that portion of rental expense representative of the interest factor.
The deficiency of earnings to fixed charges for the year ended 31 December 2002 was £66m.