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EXHIBIT 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
2000 1999 1998 1997 1996
Earnings from continuing operations
before provision for income taxes $453 $ 72 $360 $446 $607
Add:
Interest expense 142 126 96 87 67
Appropriate portion of rental
expense(1) 28 28 28 27 22
Amortization of capitalized interest 15 16 16 16 14
---- ---- ---- ---- ----
Earnings as adjusted $638 $242 $500 $576 $710
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Fixed charges:
Interest expense $142 $126 $ 96 $ 87 $ 67
Appropriate portion of rental
expense(1) 28 28 28 27 22
Capitalized interest 6 13 31 41 28
---- ---- ---- ---- ----
Total fixed charges $176 $167 $155 $155 $117
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Ratio of earnings to fixed charges 3.6x 1.5x 3.2x 3.7x 6.1x
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(1) For all periods presented, the interest component of rental expense is
estimated to equal one-third of such expense.
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