Exhibit (12)

Eastman Kodak Company
Computation of Ratio of Earnings to Fixed Charges
(in millions, except for ratios)

	Nine Months Ended September 30, 2004
Earnings from continuing operations before income taxes	$	60
Adjustments:
Minority interest in income of subsidiaries with fixed charges		4
Undistributed income of equity method investees		(18	)
Interest expense		130
Interest component of rental expense (1)		40
Amortization of capitalized interest		20
Earnings as adjusted	$	236
Fixed charges:
Interest expense		130
Interest component of rental expense (1)		40
Capitalized interest		1
Total fixed charges	$	171
Ratio of earnings to fixed charges		1.4	x

(1) Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.