EXHIBIT 11
EQUISTAR CHEMICALS, LP
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES - UNAUDITED
(Millions of Dollars)
One Month
Ended Year Ended Year Ended Six Months Six Months Six Months
December 31, December 31, December 31, Ended June Ended June Ended June
1997 1998 1998 30, 1999 30, 1998 30, 1999
------------ ------------ ------------ ------------ ------------ -----------
(historical) (historical) (pro forma) (historical) (historical) (pro forma)
Income from operations
before income taxes.... $ 7 $143 $154 $ 49 $165 $ 23
Fixed charges:
Interest expense,
gross................ $10 $156 $186 $ 89 $ 70 $115
Portion of rentals
representative of
interest............. $ 4 $ 37 $ 38 $ 18 $ 18 $ 18
--- ---- ---- ---- ---- ----
Total fixed charges..... $14 $193 $224 $107 $ 88 $133
--- ---- ---- ---- ---- ----
Earnings................ $21 $336 $378 $156 $253 $156
Ratio of earnings to
fixed charges.......... 1.5 1.7 1.7 1.5 2.9 1.2
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