EX-12 21 lyo10k-032808ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document
 
 
 

Exhibit 12


LYONDELL CHEMICAL COMPANY
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES

   
Successor
    
Predecessor
  
   
For the
period from
December 21
through
December 31,
    
For the
period from
January 1
through
December 20,
    
For the year ended December 31,
  
Millions of dollars, except ratio data
  
2007
    
2007
    
2006
    
2005
    
2004
    
2003
  
Income (loss) from continuing
operations before income taxes
   $ (169 )   $ 170     $ 1,146     $ 733     $ 152     $ (481 )
Deduct income (loss) from
equity investments
     - -       2       78       124       451       (103 )
Add distributions of earnings from
equity investments
     - -       - -       73       123       424       144  
Earnings adjusted for equity
investments
     (169 )     168       1,141       732       125       (234 )
Fixed charges:
                                                
Interest expense, gross
     56       614       648       634       464       415  
Portion of rentals representative of
interest
     3       96       69       59       25       22  
Total fixed charges before
capitalized interest
     59       710       717       693       489       437  
Capitalized interest
     - -       - -       - -       - -       - -       19  
Total fixed charges including
capitalized interest
     59       710       717       693       489       456  
Earnings before fixed charges
   $ (110 )   $ 878     $ 1,858     $ 1,425     $ 614     $ 203  
Ratio of earnings to fixed charges (a)
     - -       1.2       2.6       2.1       1.3       - -  

(a)  
For the eleven days ended December 31, 2007, and for the year 2003, earnings were insufficient to cover fixed charges by $169 million and $253 million, respectively.