EX-12 2 ppgq3201710qex12.htm EXHIBIT 12 Exhibit
Exhibit 12

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

 
Nine Months Ended
September 30
 
Year Ended December 31
 
2017
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes and net earnings in equity affiliates
$
1,621

 
$
773

 
$
1,735

 
$
1,216

 
$
1,177

 
$
764

Plus:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges exclusive of capitalized interest
147

 
215

 
210

 
278

 
280

 
277

Amortization of capitalized interest
4

 
5

 
5

 
5

 
4

 
5

Adjustments for equity affiliates
8

 
2

 
73

 
5

 
1

 
—

Total
$
1,780

 
$
995

 
$
2,023

 
$
1,504

 
$
1,462

 
$
1,046

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense including amortization of debt discount/premium and debt expense
$
78

 
$
125

 
$
125

 
$
187

 
$
196

 
$
210

Rentals - portion representative of interest
69

 
90

 
85

 
91

 
84

 
67

Fixed charges exclusive of capitalized interest
147

 
215

 
210

 
278

 
280

 
277

Capitalized interest
6

 
8

 
9

 
16

 
10

 
8

Total
$
153

 
$
223

 
$
219

 
$
294

 
$
290

 
$
285

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
11.6

 
4.5

 
9.2

 
5.1

 
5.0

 
3.7


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