EX-12 3 p64039qex12.txt EX-12 1 PHELPS DODGE CORPORATION AND SUBSIDIARIES Exhibit 12 COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION (Unaudited; dollars in millions)
September 30 December 31, 2000 1999 ------------ ------------ Short-term debt ................................. $ 473.4 451.2 Current portion of long-term debt ............... 203.7 131.3 Long-term debt .................................. 2,031.6 2,172.5 ------------ ------------ Total debt ................................. 2,708.7 2,755.0 Minority interests in subsidiaries .............. 88.0 96.3 Common shareholders' equity ..................... 3,156.0 3,276.8 ------------ ------------ Total capitalization ....................... $ 5,952.7 6,128.1 ============ ============ Ratio of total debt to total capitalization ..... 45.5% 45.0% ============ ============