Exhibit 12
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PPG Industries, Inc. and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Dollars In Millions)
Year Ended December 31 Three Months
--------------------------------------- Ended
1991 1992 1993 1994 1995 Mar. 31, 1996
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Earnings:
Earnings before income taxes $348.1 $537.8 $531.2 $839.8 $1,247.3 $281.6
Plus:
Fixed charges exclusive of capitalized interest 177.4 167.2 127.6 108.2 112.9 29.4
Amortization of capitalized interest 9.8 10.8 11.1 11.6 11.8 3.0
Adjustments for equity affiliates 0.9 (1.6) (0.7) (2.4) (4.2) --
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Total $536.2 $714.2 $669.2 $957.2 $1,367.8 $314.0
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Fixed Charges:
Interest expense including amortization of
debt discount/premium $157.9 $147.4 $107.5 $88.2 $90.6 $23.8
Rentals - portion representative of interest 19.5 19.8 20.1 20.0 22.3 5.6
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Fixed charges exclusive of capitalized interest 177.4 167.2 127.6 108.2 112.9 29.4
Capitalized interest 15.3 7.4 6.0 5.3 8.6 3.1
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Total $192.7 $174.6 $133.6 $113.5 $121.5 $32.5
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Ratio of earnings to fixed charges 2.78 4.09 5.01 8.43 11.26 9.66
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