EX-12 4 dd-12312017xex12.htm EX-12 Exhibit


Exhibit 12
 
E. I. DU PONT DE NEMOURS AND COMPANY
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
 
 
 
Successor
 
Predecessor
 
 
9/1/17-12/31/17
 
1/1/17-8/31/17
 
2016
 
2015
 
2014
 
2013
(Loss) Income from continuing operations before income taxes
 
$
(1,586
)
 
$
1,791

 
$
2,723

 
$
2,022

 
$
3,564

 
$
1,857

Adjustment for companies accounted for by the
   equity method
 
33

 
(42
)
 
(23
)
 
39

 
150

 
63

Less: Capitalized interest
 
(6
)
 
(18
)
 
(25
)
 
(70
)
 
(56
)
 
(39
)
Add: Amortization of capitalized interest
 
—

 
18

 
51

 
32

 
36

 
36

 
 
(1,559
)
 
1,749

 
2,726

 
2,023

 
3,694

 
1,917

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and debt expense
 
107

 
254

 
370

 
322

 
377

 
448

Capitalized interest
 
6

 
18

 
25

 
70

 
56

 
39

Rental expense representative of interest factor
 
32

 
42

 
70

 
101

 
99

 
93

 
 
145

 
314

 
465

 
493

 
532

 
580

Total adjusted earnings available for payment of
    fixed charges
 
$
(1,414
)
 
$
2,063

 
$
3,191

 
$
2,516

 
$
4,226

 
$
2,497

Number of times fixed charges earned
 
N/A1
 
6.6

 
6.9

 
5.1

 
7.9

 
4.3


1 The ratio coverage for the period September 1 to December 31, 2017 is less than 1:1. DuPont would need to generate additional earnings of approximately $1,559 million to achieve coverage of 1:1 for the period September 1 to December 31, 2017.