PPG Industries (PPG) 10-Q2012 Q3 Quarterly report

Filed: 29 Oct 12, 12:00am

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New words: awaiting, bear, Canadian, casualty, China, clearance, collectively, Concurrently, conditionally, consensual, coupon, covenant, creation, deadline, detract, difficult, Division, earlier, entertain, exigent, Fee, fire, flooding, free, grid, guarantee, heading, highest, highlighted, increasingly, index, India, Investor, Justice, language, launch, leaseback, lender, letter, markedly, Moody, notification, obsolescence, onsite, pace, Pelham, people, pipeline, plastic, powder, pronounced, sampling, SEC, shelf, side, sixty, size, slated, sluggish, Spraylat, Teslin, Thailand, thereunder, unused, upcoming, waiting, wind

Removed: andTeslin, issuing, line, proposal, retiring, solid, translating

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Exhibit 12

PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)



	Nine Months Ended September 30		Year Ended December 31
	2012		2011		2010		2009		2008		2007
Earnings:
Earnings before income taxes and net earnings in equity affiliates	$	1,032	$	1,539	$	1,247	$	620	$	904	$	1,282
Plus:
Fixed charges exclusive of capitalized interest	216		292		266		273		343		156
Amortization of capitalized interest	6		7		7		7		7		7
Adjustments for equity affiliates	—		19		6		11		18		21
Total	$	1,254	$	1,857	$	1,526	$	911	$	1,272	$	1,466

Fixed Charges:
Interest expense incl amortization of debt discount/premium and debt expense	$	155	$	210	$	189	$	193	$	254	$	93
Rentals - portion representative of interest	61		82		77		80		89		63
Fixed charges exclusive of capitalized interest	216		292		266		273		343		156
Capitalized interest	6		9		7		8		8		11
Total	$	222	$	301	$	273	$	281	$	351	$	167


Ratio of earnings to fixed charges	5.6		6.2		5.6		3.2		3.6		8.8

Note: The financial information of all prior periods has been reclassified to reflect discontinued operations

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