EX-12 3 q12002_ex12-1.txt UNOCAL EXHIBIT 12 EXHIBIT 12.1
UNOCAL CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Three Months Ended March 31, ------------------------------- Millions of dollars 2002 2001 -------------------------------------------------------------------------------- Earnings from continuing operations $ 22 $ 292 Provision for income taxes 40 190 Minority Interests 1 16 Distributions (less than) greater than earnings from equity investments 18 3 -------------------------------------------------------------------------------- Earnings subtotal 81 501 Fixed charges included in earnings: Interest expense 51 49 Distribution on convertible preferred securities 8 8 Interest portion of rentals 5 5 -------------------------------------------------------------------------------- Fixed charges subtotal 64 62 Earnings from continuing operations available before fixed charges $ 145 $ 563 ================================================================================ Fixed charges: Fixed charges included in earnings $ 64 $ 62 Capitalized interest 9 5 -------------------------------------------------------------------------------- Total fixed charges $ 73 $ 67 -------------------------------------------------------------------------------- Ratio of earnings from operations to fixed charges 2.0 8.4 --------------------------------------------------------------------------------