EX-12.01 3 emn-09302014xex1201.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EMN-09.30.2014-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)
 
2014
 
2013
 
2014
 
2013
Earnings from continuing operations before income taxes
$
296

$
433

$
1,014

$
1,157

Add:
 
 
 
 
 
 
 
 
Interest expense
 
50

 
46

 
143

 
141

Appropriate portion of rental expense (1)
 
5

 
6

 
16

 
19

Amortization of capitalized interest
 
1

 
2

 
5

 
5

Earnings as adjusted
$
352

$
487

$
1,178

$
1,322

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
50

$
46

$
143

$
141

Appropriate portion of rental expense (1)
 
5

 
6

 
16

 
19

Capitalized interest
 
1

 
1

 
5

 
3

Total fixed charges
$
56

$
53

$
164

$
163

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
6.3x

 
9.2x

 
7.2x

 
8.1x


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


67