EX-12 2 p64520ex12.txt EX-12 1 PHELPS DODGE CORPORATION AND SUBSIDIARIES Exhibit 12 COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION
------------------------------------------------------------------------------------------------ ($ in millions) ------------------------------------------------------------------------------------------------ December 31, --------------------------------------- 2000 1999 1998 -------- -------- -------- Short-term debt ........................... $ 518.2 451.2 116.1 Current portion of long-term debt ......... 206.5 131.3 68.5 Long-term debt ............................ 1,963.0 2,172.5 836.4 -------- -------- -------- Total debt ................................ 2,687.7 2,755.0 1,021.0 Minority interests in subsidiaries ........ 91.7 96.3 93.3 Common shareholders' equity ............... 3,105.0 3,276.8 2,587.4 -------- -------- -------- Total capitalization ...................... $5,884.4 6,128.1 3,701.7 ======== ======== ======== Ratio of total debt to total capitalization 45.7% 45.0% 27.6% ======== ======== ========