PPG Industries (PPG) 10-Q 2003 Q2 Quarterly report

Exhibit 12

PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Dollars in Millions)

	Year Ended December 31											Six Months Ended June 30, 2003
	1998		1999		2000		2001		2002
Earnings:
Earnings (loss) before income taxes and net earnings in equity affiliates	$	1,264	$	945	$	978	$	651	$	(27	)	$	413
Plus:
Fixed charges exclusive of capitalized interest		135		164		217		208		168			77
Amortization of capitalized interest		12		10		10		10		11			5
Adjustments for equity affiliates		16		16		20		26		6			2
Total	$	1,427	$	1,135	$	1,225	$	895	$	158		$	497
Fixed Charges:
Interest expense including amortization of debt
discount/premium and debt expense	$	110	$	133	$	177	$	169	$	128		$	56
Rentals – portion representative of interest		25		31		40		39		40			21
Fixed charges exclusive of capitalized interest		135		164		217		208		168			77
Capitalized interest		9		11		16		13		5			2
Total	$	144	$	175	$	233	$	221	$	173		$	79
Ratio of earnings to fixed charges		9.9		6.5		5.3		4.0		—			6.3
Deficiency of earnings to fixed charges	$	—	$	—	$	—	$	—	$	(15	)	$	—