EX-12 2 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) Computation of Ratio of Earnings to Fixed Charges (Unaudited)

Exhibit 12

 

OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(In millions)

(Unaudited)

 

     Nine Months
Ended September 30,
  
     2005
     2004
  

Earnings:

                 

Income from continuing operations before taxes

    $ 163.5     $ 42.0  

Add (deduct):

                 

Equity in income of non-consolidated affiliates

      (26.9 )     (4.8 )

Amortization of capitalized interest

      0.1       0.2  

Fixed charges as described below

      21.8       21.9  
    
 

Total

    $ 158.5     $ 59.3  
    
 

Fixed Charges:

                 

Interest expensed

    $ 15.0     $ 14.9  

Estimated interest factor in rent expense(1)

     6.8       7.0  
    
 

Total

    $ 21.8     $ 21.9  
    
 

Ratio of earnings to fixed charges

      7.3       2.7  
    
 
(1) Amounts represent those portions of rent expense that are reasonable approximations of interest costs.