EX-12.01 6 emn20160930-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 September 30, |  | Nine Months Ended September 30,
(Dollars in millions) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Earnings before income taxes excluding noncontrolling interest | $ | 288 |  | $ | 351 |  | $ | 933 |  | $ | 1,007 |
Add: |  |  |  |  |  |  |  |
Interest expense |  | 71 |  |  | 70 |  |  | 212 |  |  | 210 |
Appropriate portion of rental expense (1) |  | 8 |  |  | 7 |  |  | 23 |  |  | 20 |
Amortization of capitalized interest |  | 1 |  |  | 1 |  |  | 4 |  |  | 4 |
Earnings as adjusted | $ | 368 |  | $ | 429 |  | $ | 1,172 |  | $ | 1,241 |
Fixed charges: |  |  |  |  |  |  |  |
Interest expense | $ | 71 |  | $ | 70 |  | $ | 212 |  | $ | 210 |
Appropriate portion of rental expense (1) |  | 8 |  |  | 7 |  |  | 23 |  |  | 20 |
Capitalized interest |  | 1 |  |  | 1 |  |  | 5 |  |  | 5 |
Total fixed charges | $ | 80 |  | $ | 78 |  | $ | 240 |  | $ | 235 |
Ratio of earnings to fixed charges |  | 4.6x |  |  | 5.5x |  |  | 4.9x |  |  | 5.3x |

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