-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NKF+lo0AzH/dU432pi4oEYQR91/p1auIZO432vxIeeLhYavX/TuIHnthbMfv/Jfr x/r3YXB+JwbR8WmpR+rixA== 0000100790-99-000010.txt : 19990408 0000100790-99-000010.hdr.sgml : 19990408 ACCESSION NUMBER: 0000100790-99-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990407 ITEM INFORMATION: FILED AS OF DATE: 19990407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNION CARBIDE CORP /NEW/ CENTRAL INDEX KEY: 0000100790 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 131421730 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-01463 FILM NUMBER: 99588838 BUSINESS ADDRESS: STREET 1: 39 OLD RIDGEBURY RD CITY: DANBURY STATE: CT ZIP: 06817-0001 BUSINESS PHONE: 2037942000 MAIL ADDRESS: STREET 1: 39 OLD RIDGEBURY RD CITY: DANBURY STATE: CT ZIP: 06817-0001 FORMER COMPANY: FORMER CONFORMED NAME: UNION CARBIDE CORP DATE OF NAME CHANGE: 19890806 FORMER COMPANY: FORMER CONFORMED NAME: UNION CARBIDE & CARBON CORP DATE OF NAME CHANGE: 19710317 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 7, 1999 UNION CARBIDE CORPORATION (Exact name of registrant as specified in its charter) New York 1-1463 13-1421730 (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 39 Old Ridgebury Rd, Danbury, CT 06817-0001 (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code 203-794-2000 Total number of sequentially numbered pages in this filing, including exhibits thereto: 5 Item 5. OTHER EVENTS. (a) See Union Carbide Corporation's Computation of Ratio of Earnings to Fixed Charges for the year ended December 31, 1998 accompanying this report as Exhibit 12. Item 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits. 12. Computation of Ratio of Earnings to Fixed Charges for the year ended December 31, 1998. - 2 - Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 7, 1999 UNION CARBIDE CORPORATION By /s/ J. Macdonald J. Macdonald Assistant Secretary - 3 - EXHIBIT INDEX Exhibit 12. Computation of Ratio of Earnings to Fixed Charges for the year ended December 31, 1998. - 4 - EX-12 2 RATIO OF EARNINGS TO FIXED CHARGES DECEMBER 1998 Exhibit 12
Union Carbide Corporation and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (Millions of dollars, except ratios) For the Year Ended December 31, 1998 Fixed Charges: Interest expensed 114 Interest capitalized 43 Amortized premiums/discounts related to indebtedness - Amortized capitalized expenses related to indebtedness - Estimate of the interest within rental expense 19 Preference security dividend requirements of consolidated subsidiaries - Charges arising from guarantees of equity investees 67 Total Fixed Charges 243 Earnings Pretax income from continuing operations 689 Less: Partnership income 33 Sub-total 656 Add: Fixed charges 243 Amortization of capitalized interest 17 Distributed income of equity investees 123 UCC's share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges (62) Less: Interest capitalized 43 Preference security dividend requirements of consolidated subsidiaries - Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges - Total Earnings 934 Ratio of Earnings to Fixed Charges 3.8 For the purpose of calculating the ratio of earnings to fixed charges, earnings consist of pre-tax income of consolidated companies from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus (a) fixed charges, (b) amortization of capitalized interest, (c) distributed income of equity investees and (d) the Company's share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges less (a) interest capitalized, (b) preference security dividend requirements of consolidated subsidiaries and (c) the minority interest in pre-tax income of subsidiaries that have not incurred fixed charges. Fixed charges means the sum of (a) interest expensed and capitalized, (b) amortized premiums, discounts and capitalized expenses related to indebtedness, (c) an estimate of the interest within rental expense and (d) preference security dividend requirements of consolidated subsidiaries. The Company has a 45 percent equity investment in Equate Petrochemical Company (Equate). During 1998, the Company severally guaranteed 45 percent of Equate's long-term debt and working capital financing needs. Interest charges associated with guarantees of outstanding borrowings totaled $67 million for the year ended December 31, 1998, and have been included, along with the Company's equity in Equate's pre-tax loss for the same period, in the calculation of the ratio of earnings to fixed charges.
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