Exhibit 12
EQUISTAR CHEMICALS, LP
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars)
Year Ended December 31, | ||||||||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (339 | ) | $ | (246 | ) | $ | (283 | ) | $ | 153 | $ | 32 | |||||
Fixed charges: | ||||||||||||||||||
Interest expense, gross | 215 | 205 | 192 | 185 | 182 | |||||||||||||
Portion of rentals representative of interest | 35 | 42 | 37 | 38 | 37 | |||||||||||||
Total fixed charges before capitalized interest | 250 | 247 | 229 | 223 | 219 | |||||||||||||
Capitalized interest | — | — | — | — | — | |||||||||||||
Total fixed charges including capitalized interest | 250 | 247 | 229 | 223 | 219 | |||||||||||||
Earnings (losses) | $ | (89 | ) | $ | 1 | $ | (51 | ) | $ | 376 | $ | 251 | ||||||
Ratio of earnings (losses) to fixed charges (a) | — | — | — | 1.7 | 1.1 | |||||||||||||
(a) | In 2003, 2002 and 2001, earnings were insufficient to cover fixed charges by $339 million, $246 million and $283 million, respectively. |
Exhibit 12