EXHIBIT 12
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
FOR THE FIVE YEARS ENDED DECEMBER 31, 2000
(Amounts in millions, except ratios)
2000 1999 1998 1997 1996
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Income from continuing operations (a) $ 1,785 $ 699 $ 400 $ 245 $ 486
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Add:
Provision for taxes on income (other than
foreign oil and gas taxes) 871 306 204 47 99
Interest and debt expense(b) 540 515 576 446 492
Portion of lease rentals representative of the interest
factor 6 31 36 39 38
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1,417 852 816 532 629
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Earnings before fixed charges $ 3,202 $ 1,551 $ 1,216 $ 777 $ 1,115
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Fixed charges
Interest and debt expense including capitalized
interest(b) $ 543 $ 522 $ 594 $ 462 $ 499
Portion of lease rentals representative of the interest
factor 6 31 36 39 38
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Total fixed charges $ 549 $ 553 $ 630 $ 501 $ 537
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Ratio of earnings to fixed charges 5.83 2.80 1.93 1.55 2.08
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(a) Includes: 1) minority interest in net income of majority-owned subsidiaries
and partnerships having fixed charges, and 2) income from
less-than-50-percent-owned equity investments adjusted to reflect only
dividends received.
(b) Includes proportionate share of interest and debt expense of
50-percent-owned equity investments.