EX-12 12 p71362exv12.htm EXHIBIT 12 exv12
 

PHELPS DODGE CORPORATION AND SUBSIDIARIES
Exhibit 12
COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION
($ in millions)
                 
    September 30,     December 31,  
    2005     2004  
Short-term debt
   $ 31.1       78.8  
 
                
Current portion of long-term debt
     43.0       45.9  
 
                
Long-term debt
     656.6       972.2  
 
            
 
                
Total debt
     730.7       1,096.9  
 
                
Minority interests in consolidated subsidiaries
     897.0       555.1  
 
                
Shareholders’ equity
     5,824.3       4,343.1  
 
            
 
                
Total capitalization
   $ 7,452.0       5,995.1  
 
            
 
                
Ratio of total debt to total capitalization
     9.8 %     18.3 %