EX-12 2 oln-ex12_2014x331xq1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) OLN-Ex12_2014-3.31-Q1


Exhibit 12

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

 
 
Three Months Ended
March 31,
 
 
2014
 
2013
Earnings:
 
($ in millions)
Income from continuing operations before taxes
 
$
48.2

 
$
63.8

Add (deduct):
 
 
 
 
Earnings of non-consolidated affiliates
 
(0.4
)
 
(0.6
)
Distributions from affiliated companies
 
—

 
0.1

Capitalized interest
 
—

 
(0.8
)
Fixed charges as described below
 
15.4

 
16.0

Total
 
$
63.2

 
$
78.5

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expensed and capitalized
 
$
9.7

 
$
9.9

Estimated interest factor in rent expense(1)
 
5.7

 
6.1

Total
 
$
15.4

 
$
16.0

 
 
 
 
 
Ratio of earnings to fixed charges
 
4.1

 
4.9


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