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EXHIBIT 12.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
| First Nine | ||||||||||||||||||
| Third Quarter | Months | |||||||||||||||||
| 1999 | 1998 | 1999 | 1998 | |||||||||||||||
| (Dollars in millions) | ||||||||||||||||||
| Earnings before income taxes | $ | 49 | $ | 123 | $ | 149 | $ | 386 | ||||||||||
| Add: | ||||||||||||||||||
| Interest expense, net | 35 | 28 | 89 | 70 | ||||||||||||||
| Rental expense(1) | 6 | 5 | 17 | 18 | ||||||||||||||
| Amortization of capitalized interest | 7 | 4 | 16 | 12 | ||||||||||||||
| Earnings as adjusted | $ | 97 | $ | 160 | $ | 271 | $ | 486 | ||||||||||
| Fixed charges: | ||||||||||||||||||
| Interest expense, net | $ | 35 | $ | 28 | $ | 89 | $ | 70 | ||||||||||
| Rental expense(1) | 6 | 5 | 17 | 18 | ||||||||||||||
| Capitalized interest | 2 | 4 | 11 | 27 | ||||||||||||||
| Total fixed charges | $ | 43 | $ | 37 | $ | 117 | $ | 115 | ||||||||||
| Ratio of earnings to fixed charges | 2.3 | x | 4.3 | x | 2.3 | x | 4.2 | x | ||||||||||
| (1) | For all periods presented, interest component of rental expense is estimated to equal one-third of such expense. |
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