Attached files
Exhibit 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
Year Ended December 31, | |||||||||||||||
(Dollars in millions) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||
Earnings before income taxes excluding noncontrolling interest | $ | 1,285 | $ | 1,044 | $ | 1,123 | $ | 984 | $ | 1,672 | |||||
Add: | |||||||||||||||
Interest expense | 244 | 258 | 266 | 190 | 183 | ||||||||||
Appropriate portion of rental expense (1) | 31 | 30 | 26 | 23 | 20 | ||||||||||
Amortization of capitalized interest | 3 | 5 | 6 | 6 | 6 | ||||||||||
Earnings as adjusted | $ | 1,563 | $ | 1,337 | $ | 1,421 | $ | 1,203 | $ | 1,881 | |||||
Fixed charges: | |||||||||||||||
Interest expense | $ | 244 | $ | 258 | $ | 266 | $ | 190 | $ | 183 | |||||
Appropriate portion of rental expense (1) | 31 | 30 | 26 | 23 | 20 | ||||||||||
Capitalized interest | 7 | 7 | 7 | 7 | 4 | ||||||||||
Total fixed charges | $ | 282 | $ | 295 | $ | 299 | $ | 220 | $ | 207 | |||||
Ratio of earnings to fixed charges | 5.5x | 4.5x | 4.8x | 5.5x | 9.1x |
(1) | For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense. |