EX-12 3 oln-ex12_2012930q3.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) OLN-Ex12_2012.9.30.Q3


Exhibit 12

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

 
 
Nine Months Ended
September 30,
 
 
2012
 
2011
Earnings:
 
($ in millions)
Income before taxes
 
$
170.5

 
$
352.9

Add (deduct):
 
 
 
 
Equity in income of non-consolidated affiliates
 
(2.0
)
 
(8.5
)
Dividends received from non-consolidated affiliates
 
0.6

 
0.7

Capitalized interest
 
(5.3
)
 
(0.7
)
Fixed charges as described below
 
37.9

 
35.9

Total
 
$
201.7

 
$
380.3

Fixed charges:
 
 
 
 
Interest expensed and capitalized
 
$
23.6

 
$
23.2

Estimated interest factor in rent expense(1)
 
14.3

 
12.7

Total
 
$
37.9

 
$
35.9

Ratio of earnings to fixed charges
 
5.3

 
10.6


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