EXHIBIT 12
STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(a)
Sunoco, Inc. and Subsidiaries
(Millions of Dollars)
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For the Three
Months Ended
March 31, 2002
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(UNAUDITED)
Fixed Charges:
Consolidated interest cost and debt expense $ 26
Proportionate share of interest cost and debt
expense of 50 percent owned but not controlled
affiliated companies 1
Interest allocable to rental expense(b) 11
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Total $ 38
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Earnings:
Consolidated loss before income tax benefit $(163)
Minority interest in net income of subsidiaries
having fixed charges 3
Proportionate share of income tax expense of
50 percent owned but not controlled affiliated
companies 1
Equity in income of less than 50 percent owned
affiliated companies (2)
Dividends received from less than 50 percent
owned affiliated companies 1
Fixed charges 38
Interest capitalized --
Amortization of previously capitalized interest --
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Total $(122)
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Ratio of Earnings to Fixed Charges N/A (c)
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(a) The consolidated financial statements of Sunoco, Inc. and subsidiaries
contain the accounts of all subsidiaries that are controlled (generally
more than 50 percent owned). Corporate joint ventures and affiliated
companies over which the Company has the ability to exercise significant
influence but that are not controlled (generally 20 to 50 percent owned)
are accounted for by the equity method.
(b) Represents one-third of total operating lease rental expense which is that
portion deemed to be interest.
(c) Earnings are inadequate to cover fixed charges by $160 million.