EX-12.01 5 emn20160630-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

|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in millions) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Earnings before income taxes excluding noncontrolling interest | $ | 322 |  | $ | 401 |  | $ | 645 |  | $ | 656 |
Add: |  |  |  |  |  |  |  |
Interest expense |  | 71 |  |  | 70 |  |  | 141 |  |  | 140 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 6 |  |  | 15 |  |  | 13 |
Amortization of capitalized interest |  | 2 |  |  | 2 |  |  | 3 |  |  | 3 |
Earnings as adjusted | $ | 402 |  | $ | 479 |  | $ | 804 |  | $ | 812 |
Fixed charges: |  |  |  |  |  |  |  |
Interest expense | $ | 71 |  | $ | 70 |  | $ | 141 |  | $ | 140 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 6 |  |  | 15 |  |  | 13 |
Capitalized interest |  | 2 |  |  | 2 |  |  | 4 |  |  | 4 |
Total fixed charges | $ | 80 |  | $ | 78 |  | $ | 160 |  | $ | 157 |
Ratio of earnings to fixed charges |  | 5.0x |  |  | 6.1x |  |  | 5.0x |  |  | 5.2x |

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