EX-12 2 0002.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 ---------- PPG INDUSTRIES, INC. AND CONSOLIDATED SUBSIDIARIES Computation of Ratio Of Earnings to Fixed Charges (Dollars in Millions)
Year Ended December 31, Six Months ----------------------------------------------------- Ended 1995 1996 1997 1998 1999 June 30, 2000 ---- ---- ---- ---- ---- ------------- Earnings: Earnings before income taxes and net earnings in equity affiliates $ 1,231 $ 1,221 $ 1,165 $ 1,264 $ 945 $ 583 Plus: Fixed charges exclusive of capitalized interest 107 118 128 135 164 106 Amortization of capitalized interest 12 13 13 12 10 5 Adjustments for equity affiliates 14 15 14 16 16 7 ---------------------------------------------------------------------- Total $ 1,364 $ 1,367 $ 1,320 $ 1,427 $ 1,135 $ 701 ====================================================================== Fixed Charges: Interest expense including amortization of debt discount/premium and debt expense $ 85 $ 96 $ 105 $ 110 $ 133 $ 87 Rentals - portion representative of interest 22 22 23 25 31 19 ---------------------------------------------------------------------- Fixed charges exclusive of capitalized interest 107 118 128 135 164 106 Capitalized interest 9 12 10 9 11 8 ---------------------------------------------------------------------- Total $ 116 $ 130 $ 138 $ 144 $ 175 $ 114 ====================================================================== Ratio of earnings to fixed charges 11.8 10.5 9.6 9.9 6.5 6.1 ======================================================================