Eastman Chemical (EMN) 10-Q 2015 Q2 Quarterly report

Exhibit 12.01

EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

		Second Quarter				First Six Months
(Dollars in millions)		2015		2014		2015		2014
Earnings from continuing operations before income taxes excluding noncontrolling interest	$	401	$	397	$	656	$	718
Add:
Interest expense		70		48		140		93
Appropriate portion of rental expense (1)		6		6		13		11
Amortization of capitalized interest		2		2		3		4
Earnings as adjusted	$	479	$	453	$	812	$	826
Fixed charges:
Interest expense	$	70	$	48	$	140	$	93
Appropriate portion of rental expense (1)		6		6		13		11
Capitalized interest		2		2		4		4
Total fixed charges	$	78	$	56	$	157	$	108
Ratio of earnings to fixed charges		6.1x		8.1x		5.2x		7.6x

⁽¹⁾  For all periods presented, the interest component of rental expense is estimated to equal one-third of such expense.

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