EX-12 2 oln-ex12_2015331xq1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) OLN-Ex12_2015.3.31-Q1


Exhibit 12

OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)

 
 
Three Months Ended
March 31,
 
 
2015
 
2014
Earnings:
 
($ in millions)
Income before taxes
 
$
19.6

 
$
48.2

Add (deduct):
 
 
 
 
Earnings of non-consolidated affiliates
 
(0.4
)
 
(0.4
)
Amortization of capitalized interest
 
0.5

 
0.5

Capitalized interest
 
(0.1
)
 
—

Fixed charges as described below
 
12.9

 
15.4

Total
 
$
32.5

 
$
63.7

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expensed and capitalized
 
$
7.2

 
$
9.7

Estimated interest factor in rent expense(1)
 
5.7

 
5.7

Total
 
$
12.9

 
$
15.4

 
 
 
 
 
Ratio of earnings to fixed charges
 
2.5

 
4.1


(1)
Amounts represent those portions of rent expense that are reasonable approximations of interest costs.