EX-12 2 exhibit121stqtr2010.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) exhibit121stqtr2010.htm
Exhibit 12

OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)

   
Three Months Ended
March 31,
  
   
2010
    
2009
  
Earnings:
  
($ in millions)
  
Income before taxes
   $ 15.2     $ 74.4  
Add (deduct):
                
Equity in income of non-consolidated affiliates
     (2.2 )     (14.8 )
Dividends received from non-consolidated affiliates
     1.0       0.4  
Capitalized interest
     (0.1 )     (2.5 )
Fixed charges as described below
     11.0       7.2  
Total
   $ 24.9     $ 64.7  
Fixed charges:
                
Interest expensed and capitalized
   $ 7.0     $ 4.1  
Estimated interest factor in rent expense(1)
     4.0       3.1  
Total
   $ 11.0     $ 7.2  
Ratio of earnings to fixed charges
     2.3       9.0  

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