Exhibit 12
PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio Of Earnings to Fixed Charges
(Dollars in Millions)
Year Ended December 31
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1994 1995 1996 1997 1998
Earnings:
Earnings before income taxes $ 840 $ 1,247 $ 1,215 $ 1,149 $ 1,267
Plus:
Fixed charges exclusive of capitalized interest 108 113 124 136 139
Amortization of capitalized interest 11 12 13 13 12
Adjustments for equity affiliates and minority interest (2) (4) (3) 0 (2)
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Total $ 957 $ 1,368 $ 1,349 $ 1,298 $ 1,416
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Fixed Charges:
Interest expense including amortization of debt
discount/premium and debt expense $ 88 $ 91 $ 102 $ 113 $ 114
Rentals - portion representative of interest 20 22 22 23 25
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Fixed charges exclusive of capitalized interest 108 113 124 136 139
Capitalized interest 5 9 12 10 9
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Total $ 113 $ 122 $ 136 $ 146 $ 148
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Ratio of earnings to fixed charges 8.4 11.3 9.9 8.9 9.6
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Six Months
Ended
June 30, 1999
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Earnings:
Earnings before income taxes $ 502
Plus:
Fixed charges exclusive of capitalized interest 70
Amortization of capitalized interest 5
Adjustments for equity affiliates and minority interest (1)
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Total $ 576
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Fixed Charges:
Interest expense including amortization of debt
discount/premium and debt expense $ 57
Rentals - portion representative of interest 13
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Fixed charges exclusive of capitalized interest 70
Capitalized interest 5
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Total $ 75
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Ratio of earnings to fixed charges 7.7
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