Corning (GLW) 10-Q 2013 Q2 Quarterly report

Exhibit 12

CORNING INCORPORATED AND SUBSIDIARY COMPANIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratios)

	Six months ended June 30, 2013
Income from continuing operations before taxes on income	$	1,357
Adjustments:
Equity in earnings of equity affiliates		(339)
Distributed income of equity affiliates		182
Net income attributable to noncontrolling interests		(2)
Fixed charges net of capitalized interest		80
Earnings before taxes and fixed charges as adjusted	$	1,278
Fixed charges:
Interest incurred (a)	$	80
Portion of rent expense which represents an appropriate interest factor (b)		16
Amortization of debt costs		1
Total fixed charges	$	97
Ratio of earnings to fixed charges		13.2

(a) Interest incurred includes capitalized interest and amortization expense for debt costs.

(b) One-third of net rent expense is the portion deemed representative of the interest factor.