Ashland (ASH) 10-Q 2017 Q2 Quarterly report

															EXHIBIT 12
ASHLAND GLOBAL HOLDINGS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions)
															Six months ended
	Years ended September 30														March 31
	2016		2015			2014			2013			2012			2017			2016
EARNINGS
Income from continuing operations	$	3	$	191		$	72		$	553		$	14		$	112		$	178
Income tax expense (benefit)	133		(22		)	(188		)	196			(57		)	24			35
Interest expense	167		148			149			208			197			77			81
Interest portion of rental expense	22		20			29			25			28			11			10
Amortization of deferred debt expense	23		18			14			65			54			98			6
Distributions in excess of (less than) earnings
of unconsolidated affiliates	5		7			(11		)	(15		)	(32		)	(3		)	1
	$	353	$	362		$	65		$	1,032		$	204		$	319		$	311
FIXED CHARGES
Interest expense	$	167	$	148		$	149		$	208		$	197		$	77		$	81
Interest portion of rental expense	22		20			29			25			28			11			10
Amortization of deferred debt expense	23		18			14			65			54			98			6
Capitalized interest	1		2			1			1			1			1			1
	$	213	$	188		$	193		$	299		$	280		$	187		$	98
RATIO OF EARNINGS TO FIXED CHARGES	1.66		1.93			(B)			3.45			(A)			1.71			3.17
(A) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x.  To achieve a ratio of 1x, additional total earnings of $76 million would have been required for the year ended September 30, 2012.
(B) Deficiency Ratio - The Ratio of Earnings to Fixed Charges was less than 1x.  To achieve a ratio of 1x, additional total earnings of $128 million would have been required for the year ended September 30, 2014.