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, |
Nine Months Ended September 30, |
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| 1998 |
1999 |
2000 |
2001 |
2002 |
2002 |
2003 |
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| Income (loss) from continuing operations before income taxes |
$ | 143 | $ | 32 | $ | 153 | $ | (283 | ) | $ | (246 | ) | $ | (132 | ) | $ | (235 | ) | |||||||
| Fixed charges: |
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| Interest expense, gross |
156 | 182 | 185 | 192 | 205 | 154 | 159 | ||||||||||||||||||
| Portion of rentals representative of interest |
37 | 37 | 38 | 37 | 42 | 28 | 32 | ||||||||||||||||||
| Total fixed charges before capitalized interest |
193 | 219 | 223 | 229 | 247 | 182 | 191 | ||||||||||||||||||
| Capitalized interest |
— | — | — | — | — | — | — | ||||||||||||||||||
| Total fixed charges including capitalized interest |
193 | 219 | 223 | 229 | 247 | 182 | 191 | ||||||||||||||||||
| Earnings before fixed charges |
$ | 336 | $ | 251 | $ | 376 | $ | (54 | ) | $ | 1 | $ | 50 | $ | (44 | ) | |||||||||
| Ratio of earnings to fixed charges (a) |
1.7 | 1.1 | 1.7 | — | — | — | — | ||||||||||||||||||
| (a) | Earnings were insufficient to cover fixed charges for the years ended 2002 and 2003 and for the nine months ended September 30, 2002 and 2003 by $283 million, $246 million, $132 million and $235 million, respectively. |