EX-12 2 ppgq2201810qex12.htm EXHIBIT 12 Exhibit
Exhibit 12

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

 
Six Months Ended
June 30
 
Year Ended December 31
 
2018
 
2017
 
2016
 
2015
 
2014
 
2013
 
 
 
As Restated
 
As Restated
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes and net earnings in equity affiliates
$
890

 
$
1,988

 
$
767

 
$
1,735

 
$
1,216

 
$
1,177

Plus:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges exclusive of capitalized interest
106

 
200

 
215

 
210

 
278

 
280

Amortization of capitalized interest
3

 
6

 
5

 
5

 
5

 
4

Adjustments for equity affiliates
15

 
8

 
7

 
73

 
5

 
1

Total
$
1,014

 
$
2,202

 
$
994

 
$
2,023

 
$
1,504

 
$
1,462

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense including amortization of debt discount/premium and debt expense
$
57

 
$
105

 
$
125

 
$
125

 
$
187

 
$
196

Rentals - portion representative of interest
49

 
95

 
90

 
85

 
91

 
84

Fixed charges exclusive of capitalized interest
106

 
200

 
215

 
210

 
278

 
280

Capitalized interest
2

 
7

 
8

 
9

 
16

 
10

Total
$
108

 
$
207

 
$
223

 
$
219

 
$
294

 
$
290

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
9.4

 
10.6

 
4.5

 
9.2

 
5.1

 
5.0


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