PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
As Restated
|
| | | | | | | | | | | | | | | | | | | |
| $ in millions | Year ended December 31 |
| | 2017 | | 2016 | | 2015 | | 2014 | | 2013 |
| | As Restated | | As Restated | | | | | | |
| Earnings: | | | | | | | | | |
| Earnings before income taxes and net earnings in equity affiliates |
| $1,988 |
| |
| $767 |
| |
| $1,735 |
| |
| $1,216 |
| |
| $1,177 |
|
| Plus: | | | | | | | | | |
| Fixed charges exclusive of capitalized interest | 200 |
| | 215 |
| | 210 |
| | 278 |
| | 280 |
|
| Amortization of capitalized interest | 6 |
| | 5 |
| | 5 |
| | 5 |
| | 4 |
|
| Adjustments for equity affiliates | 8 |
| | 7 |
| | 73 |
| | 5 |
| | 1 |
|
| Total |
| $2,202 |
| |
| $994 |
| |
| $2,023 |
| |
| $1,504 |
| |
| $1,462 |
|
| | | | | | | | | | |
| Fixed Charges: | | | | | | | | | |
| Interest expense including amortization of debt discount/premium and debt expense |
| $105 |
| |
| $125 |
| |
| $125 |
| |
| $187 |
| |
| $196 |
|
| Rentals - portion representative of interest | 95 |
| | 90 |
| | 85 |
| | 91 |
| | 84 |
|
| Fixed charges exclusive of capitalized interest |
| $200 |
| |
| $215 |
| |
| $210 |
| |
| $278 |
| |
| $280 |
|
| Capitalized interest | 7 |
| | 8 |
| | 9 |
| | 16 |
| | 10 |
|
| Total |
| $207 |
| |
| $223 |
| |
| $219 |
| |
| $294 |
| |
| $290 |
|
| | | | | | | | | | |
| | | | | | | | | | |
| Ratio of earnings to fixed charges | 10.6 |
| | 4.5 |
| | 9.2 |
| | 5.1 |
| | 5.0 |
|
The financial information for the years ended December 31, 2017 and 2016 and as of December 31, 2017 and 2016 has been derived from our restated consolidated financial statements. The financial information has been restated for the matters described in Note 2, "Restatement of Previously Reported Consolidated Annual Financial Statements" included in Item 8 of this Form 10-K/A.
The financial information of all prior periods has been reclassified to reflect discontinued operations.
