EX-12 2 a2039592zex-12.txt EXHIBIT 12 EXHIBIT 12 OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
YEARS ENDED DECEMBER 31, ----------------------------------------------------------------------------- 2000 1999 1998 1997 1996 ------------- ------------ ------------ ------------ ------------ ($ IN MILLIONS) Earnings: Income from continuing operations before taxes $131 $27 $59 $147 $352 Add (deduct): Equity in income of non-consolidated affiliates (2) - - (1) (2) Dividends received from non-consolidated affiliates 1 - - 1 1 Amortization of capitalized interest - - - 1 - Capitalized interest - - (1) (1) (2) Fixed charges as described below 27 27 31 36 42 ------------- ------------ ------------ ------------ ------------ Total $157 $54 $89 $183 $391 ============= ============ ============ ============ ============ Fixed charges: Interest expense and capitalized $16 $16 $18 $25 $30 Estimated interest factor in rent expense 11 11 13 11 12 ------------- ------------ ------------ ------------ ------------ Total $27 $27 $31 $36 $42 ============= ============ ============ ============ ============ Ratio of earnings to fixed charges 5.8 2.0 2.9 5.1 9.3 ============= ============ ============ ============ ============