EX-12 22 exh121.txt EXHIBIT 12.1 FREEPORT-McMoRan COPPER & GOLD INC. Computation of Ratio of Earnings to Fixed Charges:
Years Ended December 31, ------------------------------------------------ 1996 1997 1998 1999 2000 -------- -------- -------- -------- -------- (In Thousands) Income from continuing operations $226,249 $245,108 $153,848 $136,467 $ 76,987 Add: Provision for income taxes 247,168 231,315 170,566 195,653 159,573 Minority interests' share of net income 48,529 40,343 37,012 48,714 36,680 Interest expense, net 117,291 151,720 205,588 194,069 205,346 Rental expense factor 457 240 323 188 - -------- -------- -------- -------- -------- Earnings available for fixed charges $639,694 $668,726 $567,337 $575,091 $478,586 ======== ======== ======== ======== ======== Interest expense, net $117,291 $151,720 $205,588 $194,069 $205,346 Capitalized interest 22,979 23,021 19,612 3,768 7,216 Rental expense factor 457 240 323 188 - -------- -------- -------- -------- -------- Fixed charges $140,727 $174,981 $225,523 $198,025 $212,562 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 4.5x 3.8x 2.5x 2.9x 2.3x ==== ==== ==== ==== ====
Nine Months Ended September 30, ------------------ 2000 2001 -------- -------- (In Thousands) Income from continuing operations $ 9,709 $106,230 Add: Provision for income taxes 93,477 173,308 Minority interests' share of net income 21,832 35,855 Interest expense, net 153,287 129,945 Rental expense factor 141 - -------- -------- Earnings available for fixed charges $278,446 $445,338 ======== ======== Interest expense, net $153,287 $129,945 Capitalized interest 4,841 6,563 Rental expense factor 141 - -------- -------- Fixed charges $158,269 $136,508 ======== ======== Ratio of earnings to fixed charges 1.8x 3.3x ==== ====