EX-12.01 3 emn20170331ex1201.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 March 31,
(Dollars in millions) |  | 2017 |  | 2016
Earnings before income taxes excluding noncontrolling interest |  | $ | 340 |  |  | $ | 323 |
Add: |  |  |  |
Interest expense |  | 66 |  |  | 70 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 7 |
Amortization of capitalized interest |  | 1 |  |  | 1 |
Earnings as adjusted |  | $ | 414 |  |  | $ | 401 |
Fixed charges: |  |  |  |
Interest expense |  | $ | 66 |  |  | $ | 70 |
Appropriate portion of rental expense (1) |  | 7 |  |  | 7 |
Capitalized interest |  | 2 |  |  | 2 |
Total fixed charges |  | $ | 75 |  |  | $ | 79 |
Ratio of earnings to fixed charges |  | 5.5x |  |  | 5.1x |

(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 March 31, 2016 has been revised to correct the amounts previously disclosed of $8 million included in Exhibit 12.01 to the Company's 2016 Quarterly Report on Form 10-Q.