EX-12 6 dex12.txt COMPUTATION OF RATIOS Exhibit 12 EQUISTAR CHEMICALS, LP STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars)
Year Ended December 31, ------------------------------------------- 2002 2001 2000 1999 1998 ------ ----- ------ ------ ------ Income (loss) from continuing operations before income taxes ........ $(246) $(280) $153 $ 32 $143 Fixed charges: Interest expense, gross ........................................ 205 192 185 182 156 Portion of rentals representative of interest .................. 42 37 38 37 37 ----- ----- ---- ---- ---- Total fixed charges before capitalized interest ........... 247 229 223 219 193 Capitalized interest ........................................... -- -- -- -- -- ----- ----- ---- ---- ---- Total fixed charges including capitalized interest ........ 247 229 223 219 193 ----- ----- ---- ---- ---- Earnings (losses) ................................................... $ 1 $ (51) $376 $251 $336 Ratio of earnings (losses) to fixed charges (a) ..................... -- -- 1.7 1.1 1.7 ===== ===== ==== ==== ====
(a) In 2002 and 2001, earnings were insufficient to cover fixed charges by $246 million and $280 million, respectively.