EX-12 6 dex12.txt STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 LYONDELL CHEMICAL COMPANY STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars)
Three Months Ended Year Ended December 31, March 31, -------------------------------------------- ----------------- 1998 1999 2000 2001 2002 2002 2003 ---- ---- ---- ---- ---- ---- ---- Income (loss) from continuing operations before income taxes $ 89 $(104) $ 693 $(221) $(191) $(73) $(168) ------------------------------------------------------------ Fixed charges: Interest expense, gross 385 717 627 495 508 119 141 Portion of rentals representative of interest 35 53 46 44 51 10 15 ------------------------------------------------------------ Total fixed charges before capitalized interest 420 770 673 539 559 129 156 Capitalized interest -- -- -- 3 10 2 2 ------------------------------------------------------------ Total fixed charges including capitalized interest 420 770 673 542 569 131 158 ------------------------------------------------------------ Earnings before fixed charges $509 $ 666 $1,366 $ 318 $ 368 $ 56 $ (12) ------------------------------------------------------------ Ratio of earnings to fixed charges (a) 1.2 -- 2.0 -- -- -- -- =============================================================
(a) Earnings were insufficient to cover fixed charges for the years ended 1999, 2001 and 2002 and for the three months ended March 31, 2002 and 2003 by $104 million, $224 million, $201 million, $75 million and $170 million, respectively.