EX-12 2 dex12.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)
Six Months Year Ended December 31, Ended ------------------------------------------------------- 1996 1997 1998 1999 2000 June 30, 2001 ---- ---- ---- ---- ---- ------------- Earnings: Earnings before income taxes and net earnings in equity affiliates $ 1,221 $ 1,165 $ 1,264 $ 945 $ 978 $ 363 Plus: Fixed charges exclusive of capitalized interest 118 128 135 164 217 113 Amortization of capitalized interest 13 13 12 10 10 5 Adjustments for equity affiliates 15 14 16 16 20 22 ------------------------------------------------------------------- Total $ 1,367 $ 1,320 $ 1,427 $ 1,135 $ 1,225 $ 503 =================================================================== Fixed Charges: Interest expense including amortization of debt discount/premium and debt expense $ 96 $ 105 $ 110 $ 133 $ 177 $ 94 Rentals - portion representative of interest 22 23 25 31 40 19 ------------------------------------------------------------------- Fixed charges exclusive of capitalized interest 118 128 135 164 217 113 Capitalized interest 12 10 9 11 16 7 ------------------------------------------------------------------- Total $ 130 $ 138 $ 144 $ 175 $ 233 $ 120 =================================================================== Ratio of earnings to fixed charges 10.5 9.6 9.9 6.5 5.3 4.2 ===================================================================