EX-12 3 oln-ex12_2018630xq2.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) Exhibit


Exhibit 12

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

 
 
Six Months Ended June 30,
 
 
2018
 
2017
Earnings:
 
($ in millions)
Income (loss) before taxes
 
$
101.8

 
$
(3.9
)
Add (deduct):
 
 
 
 
Losses (earnings) of non-consolidated affiliates
 
20.6

 
(1.0
)
Amortization of capitalized interest
 
1.0

 
1.0

Capitalized interest
 
(2.6
)
 
(1.6
)
Fixed charges as described below
 
148.2

 
126.5

Total
 
$
269.0

 
$
121.0

 
 
 
 
 
Fixed charges:
 
 
 
 
Interest expensed and capitalized
 
$
127.4

 
$
106.5

Estimated interest factor in rent expense(1)
 
20.8

 
20.0

Total
 
$
148.2

 
$
126.5

 
 
 
 
 
Ratio of earnings to fixed charges
 
1.8

 
1.0


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