EX-12 6 q32001_ex12-1.txt EXHIBIT 12.1 - UNOCAL COMPUTATION Exhibit 12.1
UNOCAL CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Nine Months Ended September 30, ----------------------------- Millions of dollars 2001 2000 ------------------------------------------------------------------------------------------------------ Earnings from continuing operations $ 629 $ 550 Provision for income taxes 447 309 Minority Interests 38 3 Distributions (less than) greater than earnings from equity investments 44 (48) ------------------------------------------------------------------------------------------------------ Earnings subtotal 1,158 814 Fixed charges included in earnings: Interest expense 145 159 Distribution on convertible preferred securities 24 24 Interest portion of rentals 15 17 ------------------------------------------------------------------------------------------------------ Fixed charges subtotal 184 200 Earnings from continuing operations available before fixed charges $1,342 $1,014 ====================================================================================================== Fixed charges: Fixed charges included in earnings $ 184 $ 200 Capitalized interest 19 9 ------------------------------------------------------------------------------------------------------ Total fixed charges $ 203 $ 209 ------------------------------------------------------------------------------------------------------ Ratio of earnings from operations to fixed charges 6.6 4.9 ------------------------------------------------------------------------------------------------------