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, ------------------------------- Millions of dollars 2002 2001 - ------------------------------------------------------------------------------------------------ Earnings from continuing operations $ 258 $ 648 Provision for income taxes 208 451 Minority Interests 2 38 Distributions greater than earnings from equity investments 1 44 - ------------------------------------------------------------------------------------------------ Earnings subtotal 469 1,181 Fixed charges included in earnings: Interest expense 134 145 Interest portion of rentals 14 15 - ------------------------------------------------------------------------------------------------ Fixed charges subtotal 148 160 Earnings from continuing operations available before fixed charges $ 617 $1,341 ================================================================================================ Fixed charges: Fixed charges included in earnings $ 148 $ 160 Capitalized interest 33 19 - ------------------------------------------------------------------------------------------------ Total fixed charges $ 181 $ 179 - ------------------------------------------------------------------------------------------------ Ratio of earnings from operations to fixed charges 3.4 7.5 - ------------------------------------------------------------------------------------------------ <FN> (a) Includes pre-tax Impairment of: 27 - The ratio of earnings, excluding impairment, to fixed charges would be:3.6 7.5 (b) Calculated as one-third of operating rental expense. </FN>