EXHIBIT 11
EQUISTAR CHEMICALS, LP
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES - UNAUDITED
(Millions of Dollars)
One Month Quarter
Ended Year Ended Year Ended Quarter Ended Quarter
December 31, December 31, December 31, Ended March March 31, Ended March
1997 1998 1998 31, 1999 1998 31, 1999
------------ ------------ ------------ ------------ ------------ -----------
(historical) (historical) (pro forma) (historical) (historical) (pro forma)
Income from operations
before income taxes.... $ 7 $143 $154 $ 7 $121 $(1)
Fixed charges:
Interest expense,
gross................ $10 $156 $186 $43 $ 32 $43
Portion of rentals
representative of
interest............. $ 4 $ 37 $ 38 $10 $ 8 $10
--- ---- ---- --- ---- ---
Total fixed charges..... $14 $193 $224 $53 $ 40 $53
--- ---- ---- --- ---- ---
Earnings................ $21 $336 $378 $60 $161 $52
Ratio of earnings to
fixed charges.......... 1.5 1.7 1.7 1.1 4.0 1.0
EQUISTAR CHEMICALS, LP
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES - UNAUDITED
LYONDELL CONTRIBUTED BUSINESS
(Millions of Dollars)
Eleven Year Ended
Months Ended December 31,
November 30, --------------
1997 1996 1995 1994
------------ ---- ---- ----
Historical Information:
Income from operations before income taxes........ $346 $158 $439 $215
Fixed charges:
Interest expense, gross........................... $ 50 $ 65 $ 76 $ 73
Portion of rentals representative of interest..... $ 14 $ 15 $ 13 $ 10
Total fixed charges................................. $ 64 $ 80 $ 89 $ 83
Earnings............................................ $410 $238 $528 $298
Ratio of earnings to fixed charges.................. 6.4 3.0 5.9 3.6
EQUISTAR CHEMICALS, LP
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES - UNAUDITED
MILLENNIUM CONTRIBUTED BUSINESS
(Millions of Dollars)
Eleven Year Ended
Months Ended December 31,
November 30, --------------
1997 1996 1995 1994
------------ ---- ---- ----
Historical Information:
Income from operations before income taxes........ $243 $168 $415 $130
Fixed charges:
Interest expense, gross........................... $ 66 $ 80 $ 80 $ 80
Portion of rentals representative of interest..... $ 13 $ 15 $ 14 $ 13
Total fixed charges................................. $ 79 $ 95 $ 94 $ 93
Earnings............................................ $322 $263 $509 $223
Ratio of earnings to fixed charges.................. 4.1 2.8 5.4 2.4