EX-12 5 q22001_ex12-1.txt UNOCAL RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1
UNOCAL CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Six Months Ended June 30, ----------------------------- Millions of dollars 2001 2000 --------------------------------------------------------------------------------------------------------------- Earnings from continuing operations $ 527 $ 374 Provision for income taxes 370 242 Minority Interests 30 (10) Distributions (less than) greater than earnings from equity investments 31 (21) --------------------------------------------------------------------------------------------------------------- Earnings subtotal 958 585 Fixed charges included in earnings: Interest expense 97 106 Distribution on convertible preferred securities 16 16 Interest portion of rentals 10 12 --------------------------------------------------------------------------------------------------------------- Fixed charges subtotal 123 134 Earnings from continuing operations available before fixed charges $1,081 $ 719 =============================================================================================================== Fixed charges: Fixed charges included in earnings $ 123 $ 134 Capitalized interest 11 5 --------------------------------------------------------------------------------------------------------------- Total fixed charges $ 134 $ 139 --------------------------------------------------------------------------------------------------------------- Ratio of earnings from operations to fixed charges 8.1 5.2 ---------------------------------------------------------------------------------------------------------------