EX-12.2 3 q12001_ex12-2.txt UNION OIL COMUTATION
UNION OIL COMPANY OF CALIFORNIA AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Three Months Ended March 31, --------------------------- Millions of dollars 2001 2000 ------------------------------------------------------------------------------------------------------------- Earnings from continuing operations $ 296 $ 125 Provision for income taxes 190 82 Minority Interests 16 (4) Distributions (less than) greater than earnings from equity investments 3 (6) ------------------------------------------------------------------------------------------------------------- Earnings subtotal 505 197 Fixed charges included in earnings: Interest expense 49 53 Interest portion of rentals 5 6 ------------------------------------------------------------------------------------------------------------- Fixed charges subtotal 54 59 Earnings from continuing operations available before fixed charges $ 559 $ 256 ============================================================================================================= Fixed charges: Fixed charges included in earnings $54 $59 Capitalized interest 5 2 ------------------------------------------------------------------------------------------------------------- Total fixed charges $59 $61 ------------------------------------------------------------------------------------------------------------- Ratio of earnings from operations to fixed charges 9.5 4.2 -------------------------------------------------------------------------------------------------------------