EX-12.01 3 emn-06302013xex1201.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EMN-06.30.2013-Ex 12.01


EXHIBIT 12.01

EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges


 
 
Second Quarter
 
First Six Months
(Dollars in millions)
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes
$
380

$
268

$
724

$
512

Add:
 
 
 
 
 
 
 
 
Interest expense
 
47

 
29

 
95

 
50

Appropriate portion of rental expense (1)
 
7

 
5

 
13

 
9

Amortization of capitalized interest
 
1

 
1

 
3

 
3

Earnings as adjusted
$
435

$
303

$
835

$
574

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
47

$
29

$
95

$
50

Appropriate portion of rental expense (1)
 
7

 
5

 
13

 
9

Capitalized interest
 
1

 
1

 
2

 
2

Total fixed charges
$
55

$
35

$
110

$
61

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
7.9x

 
8.7x

 
7.6x

 
9.4x

 
 
 
 
 
 
 
 
 

(1) 
For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense.


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