EX-12 6 p67197exv12.txt EX-12 Exhibit 12 PHELPS DODGE CORPORATION AND SUBSIDIARIES COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION (Unaudited; dollars in millions)
September 30, December 31, 2002 2001 -------- -------- Short-term debt ............................... $ 36.7 59.3 Current portion of long-term debt ............. 136.4 269.7 Long-term debt ................................ 2,021.6 2,522.0 -------- -------- Total debt ............................... 2,194.7 2,851.0 Minority interests in consolidated subsidiaries 63.1 59.4 Shareholders' equity .......................... 3,111.1 2,707.2 -------- -------- Total capitalization ..................... $5,368.9 5,617.6 ======== ======== Ratio of total debt to total capitalization ... 40.9% 50.8% ======== ========