EXHIBIT 12.2 UNION OIL COMPANY OF CALIFORNIA AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the Three Months Ended March 31, ------------------------------- Millions of dollars 2003 2002 - ------------------------------------------------------------------------------------------------------------------ Earnings from continuing operations $ 225 $ 30 Provision for income taxes 170 43 Minority Interests 2 1 Distributions greater than earnings from equity investments (11) 18 - ------------------------------------------------------------------------------------------------------------------ Earnings subtotal 386 92 Fixed charges included in earnings: Interest expense 38 51 Interest portion of rentals 6 5 - ------------------------------------------------------------------------------------------------------------------ Fixed charges subtotal 44 56 Earnings from continuing operations available before fixed charges $ 430 $ 148 ================================================================================================================== Fixed charges: Fixed charges included in earnings $ 44 $ 56 Capitalized interest 16 9 - ------------------------------------------------------------------------------------------------------------------ Total fixed charges $ 60 $ 65 - ------------------------------------------------------------------------------------------------------------------ Ratio of earnings from operations to fixed charges 7.2 2.3 - ------------------------------------------------------------------------------------------------------------------ <FN> (a) Includes pre-tax Impairment of: - - The ratio of earnings, excluding impairment, to fixed charges would be: 7.2 2.3 (b) Calculated as one-third of operating rental expense. </FN>