ASHLAND LLC - FORM 10-Q - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - April 30, 2015

Attached files

file filename
EX-10.4 - AMENDMENT TO THE NON-EMPLOYEE DIRECTORS DEFERRED COMPENSATION PLAN - ASHLAND LLCa3312015exhibit104.htm
EX-32 - CERTIFICATION OF WILLIAM A. WULFSOHN AND J. KEVIN WILLIS - ASHLAND LLCa3312015exhibit32.htm
10-Q - 10-Q - ASHLAND LLCa3312015ash10q.htm
EX-10.2 - AMENDMENT AGREEMENT TO THE CREDIT AGREEMENT - ASHLAND LLCa3312015exhibit102.htm
EX-10.3 - AMENDMENT NO. 2 TO THE CREDIT AGREEMENT - ASHLAND LLCa3312015exhibit103.htm
EX-10.5 - FORM OF RESTRICTED STOCK AWARD AGREEMENT - ASHLAND LLCa3312015exhibit105.htm
EX-10.6 - FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT - ASHLAND LLCa3312015exhibit106.htm
EX-10.7 - FORM OF STOCK APPRECIATION RIGHTS AWARD AGREEMENT - ASHLAND LLCa3312015exhibit107.htm
EX-10.8 - FORM OF PERFORMANCE UNIT (LTIP) AWARD AGREEMENT - ASHLAND LLCa3312015exhibit108.htm
EX-10.9 - FORM OF PERFORMANCE UNIT (LTIP) AWARD AGREEMENT (INTERNATIONAL) - ASHLAND LLCa3312015exhibit109.htm
EX-10.10 - FORM OF RESTRICTED STOCK EQUIVALENT AGREEMENT - ASHLAND LLCa3312015exhibit1010.htm
EX-31.1 - CERTIFICATION OF WILLIAM A. WULFSOHN - ASHLAND LLCa3312015exhibit311.htm
EX-31.2 - CERTIFICATION OF J. KEVIN WILLIS - ASHLAND LLCa3312015exhibit312.htm
10-Q - PDF VERSION - ASHLAND LLCa3312015ash10qfinal.pdf
EXCEL - IDEA: XBRL DOCUMENT - ASHLAND LLCFinancial_Report.xls


 
 
 
 
 
 
 
 
 
 
 
  EXHIBIT 12
 
ASHLAND INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended
 
Years ended September 30
 
March 31
 
2014
 
2013
 
2012
 
2011
 
2010
 
2015
 
2014
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
$
72

 
$
553

 
$
14

 
$
3

 
$
7

 
$
136

 
$
27

Income tax expense (benefit)
(188
)
 
196

 
(57
)
 
(70
)
 
(41
)
 
27

 
(25
)
Interest expense
149

 
208

 
197

 
105

 
117

 
74

 
75

Interest portion of rental expense
29

 
25

 
28

 
25

 
26

 
10

 
15

Amortization of deferred debt expense
14

 
65

 
54

 
26

 
81

 
7

 
7

Distributions in excess of (less than) earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
of unconsolidated affiliates
(11
)
 
(15
)
 
(32
)
 
(12
)
 
(1
)
 
17

 
38

 
$
65

 
$
1,032

 
$
204

 
$
77

 
$
189

 
$
271

 
$
137

 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES


 
 
 
 
 
 
 
 
 
 

 
 

Interest expense
$
149

 
$
208

 
$
197

 
$
105

 
$
117

 
$
74

 
$
75

Interest portion of rental expense
29

 
25

 
28

 
25

 
26

 
10

 
15

Amortization of deferred debt expense
14

 
65

 
54

 
26

 
81

 
7

 
7

Capitalized interest
1

 
1

 
1

 
—

 
2

 
1

 
1

 
$
193

 
$
299

 
$
280

 
$
156

 
$
226

 
$
92

 
$
98

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
(D)

 
3.45

 
(C)

 
(B)

 
(A)

 
2.95

 
1.40

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $37 million would have been required for the year ended September 30, 2010.
(B) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x.  To achieve a ratio of 1x, additional total earnings of $79 million would have been required for the year ended September 30, 2011.
(C) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x.  To achieve a ratio of 1x, additional total earnings of $76 million would have been required for the year ended September 30, 2012.
(D) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x. To achieve a ratio of 1x, additional total earnings of $128 million would have been required for the year ended September 30, 2014.



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