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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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EXHIBITS
To
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarter ended 30 June 2001
Commission File No. 1-4534
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AIR PRODUCTS AND CHEMICALS, INC.
(Exact name of registrant as specified in its charter)
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INDEX TO EXHIBITS
(a)(12) Computation of Ratios of Earnings to Fixed Charges.
Exhibit (a)(12)
AIR PRODUCTS AND CHEMICALS, INC., AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Unaudited)
Nine Months
Ended
Year Ended 30 September 30 June
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1996 1997 1998 1999 2000 2001
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Earnings:
Income before extraordinary item and
the cumulative effect of accounting
changes: $416.4 $429.3 $546.8 $450.5 $124.2 $362.5
Add (deduct):
Provision for income taxes 195.5 203.4 280.9 209.5 (7.5) 156.8
Fixed charges, excluding capitalized
interest 184.0 233.0 202.8 194.4 232.6 169.1
Capitalized interest amortized during
the period 9.4 8.3 7.4 6.1 6.6 5.1
Undistributed earnings of less-than-
fifty-percent-owned affiliates (40.6) (31.1) (25.3) (44.5) (32.1) (37.1)
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Earnings, as adjusted $764.7 $842.9 $1,012.6 $816.0 $323.8 $656.4
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Fixed Charges:
Interest on indebtedness, including
capital lease obligations $171.7 $217.8 $186.7 $175.4 $210.3 $155.1
Capitalized interest 20.0 20.9 18.4 24.7 19.7 6.5
Amortization of debt discount premium
and expense 1.5 1.8 1.9 1.3 3.1 (0.7)
Portion of rents under operating leases
representative of the interest factor 10.8 13.4 14.2 17.7 19.3 14.6
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Fixed charges $204.0 $253.9 $221.2 $219.1 $252.4 $175.5
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Ratio of Earnings to Fixed Charges: 3.7 3.3 4.6 3.7 1.3 3.7
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