EX-12 2 oln-ex12_2018930xq3.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
Exhibit 12
OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)

|  | Nine Months Ended September 30,
|  | 2018 |  | 2017
Earnings: |  | ($ in millions)
Income before taxes |  | $ | 363.2 |  |  | $ | 56.5 |
Add (deduct): |  |  |  |
Losses (earnings) of non-consolidated affiliates |  | 20.2 |  |  | (1.5 | )
Amortization of capitalized interest |  | 1.5 |  |  | 1.5 |
Capitalized interest |  | (4.7 | ) |  | (3.0 | )
Fixed charges as described below |  | 219.6 |  |  | 190.9 |
Total |  | $ | 599.8 |  |  | $ | 244.4 |
Fixed charges: |  |  |  |
Interest expensed and capitalized |  | $ | 188.7 |  |  | $ | 161.0 |
Estimated interest factor in rent expense(1) |  | 30.9 |  |  | 29.9 |
Total |  | $ | 219.6 |  |  | $ | 190.9 |
Ratio of earnings to fixed charges |  | 2.7 |  |  | 1.3 |

(1) | Amounts represent those portions of rent expense that are reasonable approximations of interest costs.