EX-12 2 ppg331201510qex12.htm RATIO OF EARNINGS TO FIXED CHARGES PPG 3.31.2015 10Q Ex 12
Exhibit 12

PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

 
Three Months
Ended March 31
 
Year Ended December 31
 
2015
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes and net earnings in equity affiliates
$
422

 
$
1,308

 
$
1,229

 
$
814

 
$
936

 
$
778

Plus:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges exclusive of capitalized interest
51

 
280

 
284

 
281

 
280

 
263

Amortization of capitalized interest
2

 
6

 
6

 
6

 
6

 
6

Adjustments for equity affiliates
—

 
5

 
9

 
12

 
19

 
6

Total
$
475

 
$
1,599

 
$
1,528

 
$
1,113

 
$
1,241

 
$
1,053

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense incl amortization of debt discount/premium and debt expense
$
29

 
$
187

 
$
197

 
$
210

 
$
210

 
$
189

Rentals - portion representative of interest
22

 
93

 
87

 
71

 
70

 
74

Fixed charges exclusive of capitalized interest
51

 
280

 
284

 
281

 
280

 
263

Capitalized interest
4

 
16

 
10

 
8

 
9

 
7

Total
$
55

 
$
296

 
$
294

 
$
289

 
$
289

 
$
270

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
8.6

 
5.4

 
5.2

 
3.9

 
4.3

 
3.9


Note: The financial information of all prior periods has been reclassified to reflect discontinued operations