EX-12 7 q32001_ex12-2.txt EXHIBIT 12.2 - UNION OIL COMPUTATION EXHIBIT 12.2
UNION OIL COMPANY OF CALIFORNIA 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 $ 648 $ 566 Provision for income taxes 451 311 Minority Interests 38 3 Distributions (less than) greater than earnings from equity investments 44 (48) ------------------------------------------------------------------------------------------------------ Earnings subtotal 1,181 832 Fixed charges included in earnings: Interest expense 145 159 Interest portion of rentals 15 17 ------------------------------------------------------------------------------------------------------ Fixed charges subtotal 160 176 Earnings from continuing operations available before fixed charges $1,341 $1,008 ====================================================================================================== Fixed charges: Fixed charges included in earnings $ 160 $ 176 Capitalized interest 19 9 ------------------------------------------------------------------------------------------------------ Total fixed charges $ 179 $ 185 ------------------------------------------------------------------------------------------------------ Ratio of earnings from operations to fixed charges 7.5 5.4 ------------------------------------------------------------------------------------------------------