EX-12 6 q22001_ex12-2.txt UNION OIL RATION OF EARNINGS TO FIXED CHARGES EXHIBIT 12.2
UNION OIL COMPANY OF CALIFORNIA 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 $ 539 $ 381 Provision for income taxes 372 242 Minority Interests 30 (10) Distributions (less than) greater than earnings from equity investments 31 (21) --------------------------------------------------------------------------------------------------------------- Earnings subtotal 972 592 Fixed charges included in earnings: Interest expense 97 106 Interest portion of rentals 10 12 --------------------------------------------------------------------------------------------------------------- Fixed charges subtotal 107 118 Earnings from continuing operations available before fixed charges $1,079 $ 710 =============================================================================================================== Fixed charges: Fixed charges included in earnings $ 107 $ 118 Capitalized interest 11 5 --------------------------------------------------------------------------------------------------------------- Total fixed charges $ 118 $ 123 --------------------------------------------------------------------------------------------------------------- Ratio of earnings from operations to fixed charges 9.1 5.8 ---------------------------------------------------------------------------------------------------------------