EX-12 4 p70966exv12.htm EXHIBIT 12 exv12
 

PHELPS DODGE CORPORATION AND SUBSIDIARIES
Exhibit 12
COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION
($ in millions)
                 
    June 30,   December 31,
    2005   2004
Short-term debt
   $ 30.3       78.8  
 
                
Current portion of long-term debt
     43.6       45.9  
 
                
Long-term debt
     970.3       972.2  
 
                
 
                
Total debt
     1,044.2       1,096.9  
 
                
Minority interests in consolidated subsidiaries
     844.9       555.1  
 
                
Shareholders’ equity
     5,399.9       4,343.1  
 
                
 
                
Total capitalization
   $ 7,289.0       5,995.1  
 
                
 
                
Ratio of total debt to total capitalization
     14.3 %     18.3 %