EX-12.01 3 emn20160331-ex1201.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.01

EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
 
 
 
First Quarter
(Dollars in millions)
 
2016
 
2015
Earnings before income taxes excluding noncontrolling interest
$
323

$
255

Add:
 
 
 
 
Interest expense
 
70

 
70

Appropriate portion of rental expense (1)
 
8

 
7

Amortization of capitalized interest
 
1

 
1

Earnings as adjusted
$
402

$
333

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expense
$
70

$
70

Appropriate portion of rental expense (1)
 
8

 
7

Capitalized interest
 
2

 
2

Total fixed charges
$
80

$
79

 
 
 
 
 
Ratio of earnings to fixed charges
 
5.0x

 
4.2x


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



 
 
 
 
 
 
 
 
 
 
 




60