EX-12.01 4 emn20150930-ex1201.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Exhibit 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges

|  | Third Quarter |  | First Nine Months
(Dollars in millions) |  | 2015 |  | 2014 |  | 2015 |  | 2014
Earnings from continuing operations before income taxes excluding noncontrolling interest | $ | 351 |  | $ | 296 |  | $ | 1,007 |  | $ | 1,014 |
Add: |  |  |  |  |  |  |  |
Interest expense |  | 70 |  |  | 50 |  |  | 210 |  |  | 143 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 5 |  |  | 20 |  |  | 16 |
Amortization of capitalized interest |  | 1 |  |  | 1 |  |  | 4 |  |  | 5 |
Earnings as adjusted | $ | 429 |  | $ | 352 |  | $ | 1,241 |  | $ | 1,178 |
Fixed charges: |  |  |  |  |  |  |  |
Interest expense | $ | 70 |  | $ | 50 |  | $ | 210 |  | $ | 143 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 5 |  |  | 20 |  |  | 16 |
Capitalized interest |  | 1 |  |  | 1 |  |  | 5 |  |  | 5 |
Total fixed charges | $ | 78 |  | $ | 56 |  | $ | 235 |  | $ | 164 |
Ratio of earnings to fixed charges |  | 5.5x |  |  | 6.3x |  |  | 5.3x |  |  | 7.2x |

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

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