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)

 

     Six Months Ended
June 30,		  
     2006     2005  

Earnings:

     

Income before taxes

    $ 106.2     $ 112.3  

Add (deduct):

     

Equity in income of non-consolidated affiliates

      (25.1 )     (18.4 )

Amortization of capitalized interest

      0.1       0.1  

Fixed charges as described below

      14.9       14.7  
                

Total

    $ 96.1     $ 108.7  
                

Fixed Charges:

     

Interest expensed

    $ 10.2     $ 10.5  

Estimated interest factor in rent expense(1)

     4.7       4.2  
                

Total

    $ 14.9     $ 14.7  
                

Ratio of earnings to fixed charges

      6.4       7.4  
                
(1) Amounts represent those portions of rent expense that are reasonable approximations of interest costs.