Exhibit (12)

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

Year Ended December 31

	2004			2003			2002			2001			2000
					(Restated)
(Loss) earnings from continuing operations before provision for income taxes	$	(94	)	$	104		$	894		$	83		$	2,097
Adjustments:
Minority interest in income/(loss) of subsidiaries with fixed charges		2			24			17			(11	)		11
Undistributed (earnings)/ loss of equity method investees		(30	)		41			107			77			36
Interest expense		168			147			173			218			178
Interest component of rental expense (1)		54			53			53			42			52
Amortization of capitalized interest		25			27			28			28			28
Earnings as adjusted	$	125		$	396		$	1,272		$	437		$	2,402
Fixed charges:
Interest expense		168			147			173			218			178
Interest component of rental expense (1)		54			53			53			42			52
Capitalized interest		2			2			3			12			40
Total fixed charges	$	224		$	202		$	229		$	272		$	270
Ratio of earnings to fixed charges		0.6	x		2.0	x		5.6	x		1.6	x		8.9	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.