EX-12 6 ex12-10q20020510.txt EXHIBIT 12 EXHIBIT 12 OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES (Amounts in millions, except ratios)
Three Months Ended March 31 Year Ended December 31 ------------------- ------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 ---------------------------------------- ------- ------- ------- ------- ------- ------- ------- Income from continuing operations(a) $ 183 $ 567 $ 1,418 $ 1,785 $ 699 $ 400 $ 245 ------- ------- ------- ------- ------- ------- ------- Add: Provision for taxes on income (other than foreign and gas taxes) 52 194 172 871 306 204 47 Interest and debt expense(b) 77 122 111 540 515 576 446 Portion of lease rentals representative of the interest factor 7 1 7 6 31 36 39 ------- ------- ------- ------- ------- ------- ------- 136 317 590 1,417 852 816 532 ------- ------- ------- ------- ------- ------- ------- Earnings before fixed charges $ 319 $ 884 $ 2,008 $ 3,202 $ 1,551 $ 1,216 $ 777 ======= ======= ======= ======= ======= ======= ======= Fixed charges Interest and debt expense including capitalized interest(b) $ 79 $ 123 $ 417 $ 543 $ 522 $ 594 $ 462 Portion of lease rentals representative of the interest factor 7 1 7 6 31 36 39 ------- ------- ------- ------- ------- ------- ------- Total fixed charges $ 86 $ 124 $ 424 $ 549 $ 553 $ 630 $ 501 ======= ======= ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 3.71 7.13 4.74 5.83 2.80 1.93 1.55 ---------------------------------------- ======= ======= ======= ======= ======= ======= =======
(a) Includes (1) minority interest in net income of majority-owned subsidiaries having fixed charges and (2) income from less-than-50-percent-owned equity investments adjusted to reflect only dividends received. (b) Includes proportionate share of interest and debt expense of 50-percent-owned equity investments.