EX-12 3 dex12.txt COMPUTATION OF RATIO OF EARNINGS 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 --------------------------------- 1997 1998 1999 2000 2001 June 30, 2002 ---- ---- ---- ---- ---- ------------- Earnings: Earnings (loss) before income taxes and net earnings in equity affiliates $1,165 $1,264 $ 945 $ 978 $ 651 $ (439) Plus: Fixed charges exclusive of capitalized interest 128 135 164 217 208 84 Amortization of capitalized interest 13 12 10 10 10 6 Adjustments for equity affiliates 14 16 16 20 26 5 ---------------------------------------------------- Total $1,320 $1,427 $1,135 $1,225 $ 895 $ (344) ==================================================== Fixed Charges: Interest expense including amortization of debt discount/premium and debt expense $ 105 $ 110 $ 133 $ 177 $ 169 $ 66 Rentals - portion representative of interest 23 25 31 40 39 18 ---------------------------------------------------- Fixed charges exclusive of capitalized interest 128 135 164 217 208 84 Capitalized interest 10 9 11 16 13 3 ---------------------------------------------------- Total $ 138 $ 144 $ 175 $ 233 $ 221 $ 87 ==================================================== Ratio of earnings to fixed charges 9.6 9.9 6.5 5.3 4.0 - ==================================================== Deficiency of earnings to fixed charges $ - $ - $ - $ - $ - $ (431) ====================================================