EX-12.1 3 0003.htm UNOCAL CORPORATION EARNINGS TO FIXED CHARGES RATI Unocal Corporation Earnings to Fixed Charges Ratio 
                                       UNOCAL CORPORATION AND CONSOLIDATED SUBSIDIARIES
                                       COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES








                                                                                                     For the Nine Months
                                                                                                     Ended September 30,
                                                                                              ----------------------------------
Millions of dollars                                                                                    2000                1999
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Earnings from continuing operations                                                                   $ 550                $ 42
Provision for income taxes                                                                              309                  60
Minority Interests                                                                                        3                   8
Distributions (Less Than) Greater Than equity in earnings of affiliates                                 (48)                  6
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         Earnings subtotal                                                                              814                 116
Fixed charges included in earnings:
   Interest expense                                                                                     159                 145
   Distribution on convertible preferred securities                                                      24                  24
   Interest portion of rentals                                                                           17                  15
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         Fixed charges subtotal                                                                         200                 184
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Earnings from operations
   available before fixed charges                                                                   $ 1,014               $ 300
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Fixed charges:
   Fixed charges included in earnings                                                                 $ 200               $ 184
   Capitalized interest                                                                                   9                  13
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         Total fixed charges                                                                          $ 209               $ 197
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Ratio of earnings from operations
   to fixed charges                                                                                     4.9                 1.5