EX-12.01 2 emn20180630ex1201.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) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Earnings before income taxes excluding noncontrolling interest | $ | 428 |  | $ | 357 |  | $ | 778 |  | $ | 697 |
Add: |  |  |  |  |  |  |  |
Interest expense |  | 63 |  |  | 61 |  |  | 123 |  |  | 122 |
Appropriate portion of rental expense (1) |  | 8 |  |  | 8 |  |  | 16 |  |  | 15 |
Amortization of capitalized interest |  | 1 |  |  | 1 |  |  | 2 |  |  | 2 |
Earnings as adjusted | $ | 500 |  | $ | 427 |  | $ | 919 |  | $ | 836 |
Fixed charges: |  |  |  |  |  |  |  |
Interest expense | $ | 63 |  | $ | 61 |  | $ | 123 |  | $ | 122 |
Appropriate portion of rental expense (1) |  | 8 |  |  | 8 |  |  | 16 |  |  | 15 |
Capitalized interest |  | 1 |  |  | 2 |  |  | 2 |  |  | 4 |
Total fixed charges | $ | 72 |  | $ | 71 |  | $ | 141 |  | $ | 141 |
Ratio of earnings to fixed charges |  | 6.9x |  |  | 6.0x |  |  | 6.5x |  |  | 5.9x |

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