Attached files
| file | filename |
|---|---|
| 10-Q - THIRD QUARTER 2017 EASTMAN CHEMICAL COMPANY 10-Q - EASTMAN CHEMICAL CO | emn2017093010q.htm |
| EX-32.02 - SECTION 1350 CERTIFICATION BY CURTIS E. ESPELAND - EASTMAN CHEMICAL CO | emn20170930ex3202.htm |
| EX-32.01 - SECTION 1350 CERTIFICATION BY MARK J. COSTA - EASTMAN CHEMICAL CO | emn20170930ex3201.htm |
| EX-31.02 - RULE 13A 14(A) CERTIFICATION BY CURTIS E. ESPELAND - EASTMAN CHEMICAL CO | emn20170930ex3102.htm |
| EX-31.01 - RULE 13A 14(A) CERTIFICATION BY MARK J. COSTA - EASTMAN CHEMICAL CO | emn20170930ex3101.htm |
Exhibit 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
(Dollars in millions) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Earnings before income taxes excluding noncontrolling interest | $ | 402 | $ | 288 | $ | 1,099 | $ | 933 | ||||||||
Add: | ||||||||||||||||
Interest expense | 69 | 71 | 204 | 212 | ||||||||||||
Appropriate portion of rental expense (1) | 7 | 7 | 22 | 20 | ||||||||||||
Amortization of capitalized interest | 1 | 1 | 3 | 4 | ||||||||||||
Earnings as adjusted | $ | 479 | $ | 367 | $ | 1,328 | $ | 1,169 | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 69 | $ | 71 | $ | 204 | $ | 212 | ||||||||
Appropriate portion of rental expense (1) | 7 | 7 | 22 | 20 | ||||||||||||
Capitalized interest | 1 | 1 | 5 | 5 | ||||||||||||
Total fixed charges | $ | 77 | $ | 79 | $ | 231 | $ | 237 | ||||||||
Ratio of earnings to fixed charges | 6.2x | 4.6x | 5.7x | 4.9x | ||||||||||||
(1) | For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense. The appropriate portion of rental expense disclosed above for the three months ended September 30, 2016 and nine months ended September 30, 2016 has been revised to correct the amounts previously disclosed of $8 million and $23 million, respectively, included in Exhibit 12.01 to the Company's 2016 Quarterly Report on Form 10-Q. |