EX-12 2 exhibit12.htm RATIO OF EARNINGS TABLE exhibit12.htm


Exhibit 12
CORNING INCORPORATED AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)




 
Six months ended
June 30, 2011
   
Income from continuing operations before taxes on income
  
$
1,740 
  
Adjustments:
        
Equity in earnings of equity affiliates
    
(826)
  
Distributed income of equity affiliates
    
389 
  
Net income attributable to noncontrolling interests
    
(1)
  
Fixed charges net of capitalized interest
    
65 
  
         
Earnings before taxes and fixed charges as adjusted
  
$
1,367 
  
         
Fixed charges:
        
Interest expense
  
$
66 
  
Portion of rent expense which represents an appropriate interest factor (a)
    
15 
  
Amortization of debt costs
    
1 
  
         
Total fixed charges
  
$
82 
  
         
Ratio of earnings to fixed charges
    
16.7x
  

(a)
One-third of net rent expense is the portion deemed representative of the interest factor.