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, ------------------------------------------ Nine Months Ended 1995 1996 1997 1998 1999 September 30, 2000 ---- ---- ---- ---- ---- ------------------ Earnings: Earnings before income taxes and net earnings in equity affiliates $1,231 $1,221 $1,165 $1,264 $ 945 $ 825 Plus: Fixed charges exclusive of capitalized interest 107 118 128 135 164 159 Amortization of capitalized interest 12 13 13 12 10 7 Adjustments for equity affiliates 14 15 14 16 16 18 ---------------------------------------------------------------- Total $1,364 $1,367 $1,320 $1,427 $1,135 $1,009 ================================================================ Fixed Charges: Interest expense including amortization of debt discount/premium and debt expense $ 85 $ 96 $ 105 $ 110 $ 133 $ 130 Rentals - portion representative of interest 22 22 23 25 31 29 ---------------------------------------------------------------- Fixed charges exclusive of capitalized interest 107 118 128 135 164 159 Capitalized interest 9 12 10 9 11 12 ---------------------------------------------------------------- Total $ 116 $ 130 $ 138 $ 144 $ 175 $ 171 ================================================================ Ratio of earnings to fixed charges 11.8 10.5 9.6 9.9 6.5 5.9 ================================================================