EX-99 5 proformaexhibit12.txt EXHIBIT (99) 1 Exhibit (99) Eastman Kodak Company and Subsidiary Companies Computation of Pro Forma Ratio of Earnings to Fixed Charges (in millions, except for ratios) Six Months Year Ended Ended June 30, December 31, 2003 2002 Earnings from continuing operations before provision for income taxes $ 108 $ 946 Adjustments: Minority interest in income/(loss) of subsidiaries with fixed charges 8 17 Undistributed loss/(earnings) of equity method investees 23 107 Interest expense 71 173 Interest component of rental expense (1) 27 53 Amortization of capitalized interest 13 28 ------ ------ Earnings as adjusted $ 250 $1,324 ====== ====== Fixed charges: Interest expense 71 173 Interest component of rental expense (1) 27 53 Capitalized interest 1 3 ------ ------ Total fixed charges $ 99 $ 229 Pro forma adjustments: Estimated net increase in interest expense from refinancing 13 25 ------ ------ Total pro forma fixed charges $ 112 $ 254 ====== ====== Pro forma ratio of earnings to fixed charges 2.2x 5.2x (1) Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.