EXHIBIT 12
ASHLAND INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
	Three months ended
	December 31
	2010			2009
EARNINGS
Income from continuing operations	$	62		$	64
Income tax expense		31			22
Interest expense		25			35
Interest portion of rental expense		5			5
Amortization of deferred debt expense		4			6
Distributions less than earnings of
unconsolidated affiliates		(1	)		-
	$	126		$	132
FIXED CHARGES
Interest expense	$	25		$	35
Interest portion of rental expense		5			5
Amortization of deferred debt expense		4			6
Capitalized interest		-			1
	$	34		$	47
RATIO OF EARNINGS TO FIXED CHARGES		3.71			2.81