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 1999 1998 - -------------------------------------------------------------------------------- .................................................. Earnings (loss) from operations ...................... $ 13 $ 23 Provision for income taxes ........................... 12 83 - -------------------------------------------------------------------------------- Earnings subtotal .............................. 25 106 Fixed charges included in earnings: Interest expense .................................. 45 41 Interest portion of rentals ....................... 5 6 - -------------------------------------------------------------------------------- Fixed charges subtotal ......................... 50 47 Earnings (loss) from operations available before fixed charges .................... 75 153 - -------------------------------------------------------------------------------- Fixed charges: Fixed charges included in earnings ................ 50 47 Capitalized interest .............................. 5 8 - -------------------------------------------------------------------------------- Total fixed charges ............................ $ 55 $ 55 - -------------------------------------------------------------------------------- Ratio of earnings from operations to fixed charges ................................. 1.4 2.8 - --------------------------------------------------------------------------------