EX-12.01 2 emn-06302014xex1201.htm EXHIBIT EMN-06.30.2014-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)
 
2014
 
2013
 
2014
 
2013
Earnings from continuing operations before income taxes
$
397

$
380

$
718

$
724

Add:
 
 
 
 
 
 
 
 
Interest expense
 
48

 
47

 
93

 
95

Appropriate portion of rental expense (1)
 
6

 
7

 
11

 
13

Amortization of capitalized interest
 
2

 
1

 
4

 
3

Earnings as adjusted
$
453

$
435

$
826

$
835

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
48

$
47

$
93

$
95

Appropriate portion of rental expense (1)
 
6

 
7

 
11

 
13

Capitalized interest
 
2

 
1

 
4

 
2

Total fixed charges
$
56

$
55

$
108

$
110

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
8.1x

 
7.9x

 
7.6x

 
7.6x


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


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