EX-12 2 oln-ex12_2014930xq3.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) OLN-Ex12_2014.9.30-Q3


Exhibit 12

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

 
 
Nine Months Ended
September 30,
 
 
2014
 
2013
Earnings:
 
($ in millions)
Income from continuing operations before taxes
 
$
143.3

 
$
219.5

Add (deduct):
 
 
 
 
Earnings of non-consolidated affiliates
 
(1.4
)
 
(2.4
)
Distributions from affiliated companies
 
—

 
0.9

Amortization of capitalized interest
 
1.6

 
1.5

Capitalized interest
 
(0.2
)
 
(1.0
)
Fixed charges as described below
 
54.8

 
46.7

Total
 
$
198.1

 
$
265.2

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expensed and capitalized
 
$
37.2

 
$
29.7

Estimated interest factor in rent expense(1)
 
17.6

 
17.0

Total
 
$
54.8

 
$
46.7

 
 
 
 
 
Ratio of earnings to fixed charges
 
3.6

 
5.7


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