EX-12.01 9 emn20171231ex1201.htm STATEMENT RE: COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
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.