Ashland 10-Q 2009 Q3 Quarterly report

																			EXHIBIT 12
ASHLAND INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
																Nine months ended
	Years ended September 30															June 30
	2008			2007			2006			2005			2004			2009			2008
EARNINGS
Income (loss) from continuing operations	$	175		$	201		$	183		$	1,958		$	311		$	(20	)	$	176
Income tax expense (benefit)		86			58			29			(230	)		100			49			58
Interest expense		9			9			8			87			112			118			7
Interest portion of rental expense		21			20			18			20			20			17			16
Amortization of deferred debt expense		-			1			-			3			2			35			-
Distributions (less than) in excess of earnings
of unconsolidated affiliates		(10	)		(5	)		(6	)		(246	)		(260	)		4			(10	)
	$	281		$	284		$	232		$	1,592		$	285		$	203		$	247
FIXED CHARGES
Interest expense	$	9		$	9		$	8		$	87		$	112		$	118		$	7
Interest portion of rental expense		21			20			18			20			20			17			16
Amortization of deferred debt expense		-			1			-			3			2			35			-
Capitalized interest		-			2			3			1			-			3			-
	$	30		$	32		$	29		$	111		$	134		$	173		$	23
RATIO OF EARNINGS TO FIXED CHARGES		9.37			8.88			8.00			14.34			2.13			1.17			10.74