EX-12.01 3 emn-09302013xex1201.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EMN-09.30.2013-Ex 12.01


EXHIBIT 12.01

EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges


 
 
Third Quarter
 
First Nine Months
(Dollars in millions)
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes
$
433

$
218

$
1,157

$
730

Add:
 
 
 
 
 
 
 
 
Interest expense
 
46

 
50

 
141

 
100

Appropriate portion of rental expense (1)
 
6

 
7

 
19

 
16

Amortization of capitalized interest
 
2

 
2

 
5

 
5

Earnings as adjusted
$
487

$
277

$
1,322

$
851

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
46

$
50

$
141

$
100

Appropriate portion of rental expense (1)
 
6

 
7

 
19

 
16

Capitalized interest
 
1

 
1

 
3

 
3

Total fixed charges
$
53

$
58

$
163

$
119

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
9.2x

 
4.8x

 
8.1x

 
7.2x

 
 
 
 
 
 
 
 
 

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


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