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EXHIBIT 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
SECOND QUARTER FIRST SIX MONTHS
1997 1996 1997 1996
Earnings before provision for income taxes $ 141 $ 177 $ 255 $ 355
Add:
Interest expense, net 22 20 41 35
Rental expense (1) 7 5 12 10
Amortization of capitalized interest 4 3 7 7
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Earnings as adjusted $ 174 $ 205 $ 315 $ 407
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Fixed charges:
Interest expense, net $ 22 $ 20 $ 41 $ 35
Rental expense (1) 7 5 12 10
Capitalized interest 9 4 19 10
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Total fixed charges $ 38 $ 29 $ 72 $ 55
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Ratio of earnings to fixed charges 4.6x 7.1x 4.4x 7.4x
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(1) For all periods presented, interest component of rental expense is
estimated to equal one-third of such expense.
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