EX-12 10 exhibit12ratio.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 KERR-McGEE CORPORATION AND SUBSIDIARY COMPANIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1) (Millions of dollars) 2000 1999 1998 1997 1996 ------ ----- ----- ---- ---- Income (loss) from continuing operations $ 842 $146 $(345) $351 $358 Add - Provision (benefit) for income taxes 457 111 (175) 184 225 Interest expense 208 190 157 141 145 Rental expense representative of interest factor 12 14 12 13 10 ------ ---- ----- ---- ----- Earnings $1,519 $461 $(351) $689 $738 ====== ==== ===== ==== ==== Fixed Charges - Interest expense $ 208 $190 $157 $141 $145 Rental expense representative of interest factor 12 14 12 13 10 Interest capitalized 5 9 28 24 25 ------ ---- ---- ---- ----- Total fixed charges $ 225 $213 $197 $178 $180 ====== ==== ==== ==== ==== Ratio of earnings to fixed charges 6.8 2.2 -(1) 3.9 4.1 ====== ==== ==== ==== ===== (1)Earnings were inadequate to cover fixed charges by $548 million in 1998.