EXHIBIT 12.2
UNION OIL COMPANY OF CALIFORNIA AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Nine Months
Ended September 30,
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Millions of dollars 2001 2000
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Earnings from continuing operations $ 648 $ 566
Provision for income taxes 451 311
Minority Interests 38 3
Distributions (less than) greater than earnings from equity investments 44 (48)
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Earnings subtotal 1,181 832
Fixed charges included in earnings:
Interest expense 145 159
Interest portion of rentals 15 17
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Fixed charges subtotal 160 176
Earnings from continuing operations
available before fixed charges $1,341 $1,008
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Fixed charges:
Fixed charges included in earnings $ 160 $ 176
Capitalized interest 19 9
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Total fixed charges $ 179 $ 185
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Ratio of earnings from operations
to fixed charges 7.5 5.4
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