Corning (GLW) 10-Q 2013 Q3 Quarterly report

Exhibit 12

CORNING INCORPORATED AND SUBSIDIARY COMPANIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratios)

	Nine months ended September 30, 2013
Income from continuing operations before taxes on income	$	1,906
Adjustments:
Equity in earnings of equity affiliates		(477)
Distributed income of equity affiliates		221
Net income attributable to noncontrolling interests		(1)
Fixed charges net of capitalized interest		117
Earnings before taxes and fixed charges as adjusted	$	1,766
Fixed charges:
Interest incurred (a)	$	116
Portion of rent expense which represents an appropriate interest factor (b)		24
Amortization of debt costs		2
Total fixed charges	$	142
Ratio of earnings to fixed charges		12.4

(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.