EX-12 2 ppg201610kex12-ratioofearn.htm EXHIBIT 12 Exhibit
Exhibit 12

PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

 
 
 
Year ended December 31
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
Earnings before income taxes and net earnings in equity affiliates
$
811

 
$
1,766

 
$
1,239

 
$
1,207

 
$
800

Plus:
 
 
 
 
 
 
 
 
 
Fixed charges exclusive of capitalized interest
215

 
211

 
278

 
282

 
279

Amortization of capitalized interest
6

 
6

 
5

 
5

 
5

Adjustments for equity affiliates
7

 
77

 
5

 
9

 
12

Total
$
1,039

 
$
2,060

 
$
1,527

 
$
1,503

 
$
1,096

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense including amortization of debt discount/premium and debt expense
$
125

 
$
124

 
$
186

 
$
195

 
$
209

Rentals - portion representative of interest
90

 
87

 
92

 
87

 
70

Fixed charges exclusive of capitalized interest
215

 
211

 
278

 
282

 
279

Capitalized interest
8

 
9

 
16

 
10

 
8

Total
$
223

 
$
220

 
$
294

 
$
292

 
$
287

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
4.7

 
9.4

 
5.2

 
5.1

 
3.8


Note: The financial information of all prior periods has been reclassified to reflect discontinued operations.