EX-12 3 p66069ex12.txt EX-12 PHELPS DODGE CORPORATION AND SUBSIDIARIES Exhibit 12 COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION -------------------------------------------------------------------------------- ($ in millions) --------------------------------------------------------------------------------
December 31, --------------------------------- 2001 2000 1999 --------- --------- --------- Short-term debt ........................... $ 59.3 518.2 451.2 Current portion of long-term debt ......... 269.7 206.5 131.3 Long-term debt ............................ 2,522.0 1,963.0 2,172.5 --------- --------- --------- Total debt ................................ 2,851.0 2,687.7 2,755.0 Minority interests in subsidiaries ........ 59.4 91.7 96.3 Common shareholders' equity ............... 2,707.2 3,105.0 3,276.8 --------- --------- --------- Total capitalization ...................... $5,617.6 5,884.4 6,128.1 ========= ========= ========= Ratio of total debt to total capitalization 50.8% 45.7% 45.0% ========= ========= =========