EX-12 2 exhibit12.htm EXHIBIT 12 exhibit12.htm
Exhibit 12
 
OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(In millions)
(Unaudited
 
 
 
Six Months Ended
June 30,
 
 
 
2007
 
 
2006
 
Earnings:
 
 
 
 
 
 
Income before taxes
 
$
88.5
  
 
$
106.2
 
Add (deduct):
 
 
    
 
 
 
 
Equity in income of non-consolidated affiliates
 
 
(20.4
)
 
 
(25.1
)
Amortization of capitalized interest
 
 
0.1
  
 
 
0.1
 
Fixed charges as described below
 
 
15.1
  
 
 
14.9
 
Total
 
$
83.3
  
 
$
96.1
 
Fixed Charges:
 
 
    
 
 
 
 
Interest expensed
 
$
9.9
  
 
$
10.2
 
Estimated interest factor in rent expense(1)
 
 
5.2
  
 
 
4.7
 
Total
 
$
15.1
  
 
$
14.9
 
Ratio of earnings to fixed charges
 
 
5.5
  
 
 
6.4
 


(1)           Amounts represent those portions of rent expense that are reasonable approximations of interest costs.