PPG Industries (PPG) 10-Q 2013 Q3 Quarterly report

Exhibit 12

PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)

	Nine Months Ended Sept 30		Year Ended December 31
	2013		2012		2011		2010		2009		2008
Earnings:
Earnings before income taxes and net earnings in equity affiliates	$	1,114	$	1,036	$	1,177	$	1,059	$	473	$	570
Plus:
Fixed charges exclusive of capitalized interest	206		285		280		263		270		343
Amortization of capitalized interest	5		6		6		6		6		6
Adjustments for equity affiliates	1		12		19		6		11		18
Total	$	1,326	$	1,339	$	1,482	$	1,334	$	760	$	937
Fixed Charges:
Interest expense incl amortization of debt discount/premium and debt expense	$	148	$	210	$	210	$	189	$	193	$	254
Rentals - portion representative of interest	58		75		70		74		77		89
Fixed charges exclusive of capitalized interest	206		285		280		263		270		343
Capitalized interest	7		8		9		7		9		8
Total	$	213	$	293	$	289	$	270	$	279	$	351
Ratio of earnings to fixed charges	6.2		4.6		5.1		4.9		2.7		2.7

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