The Sherwin-Williams Company (SHW) 8-K Other Events

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(Dollars in millions)

(Unaudited)

	Nine Months Ended
	September 30,				Year Ended December 31,
	2012		2011		2011		2010		2009		2008		2007
Fixed Charges:
Interest expense (a)	$	31	$	33	$	42	$	71	$	40	$	66	$	72
Rent expense		77		72		97		93		94		90		81
Total fixed charges		108		105		139		164		134		156		153
Earnings:
Income before taxes		813		612		742		678		623		714		913
Fixed charges per above		108		105		139		164		134		156		153
Total earnings, as adjusted		921		717		881		842		757		870		1,066
Ratio of earnings to fixed charges		8.5		6.8		6.3		5.1		5.6		5.6		7.0

(a) The interest expense included in fixed charges above reflects only interest on third party indebtedness and excludes any interest expense accrued on uncertain tax positions, as permitted by Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 740, Income Taxes.