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EXHIBIT 12
MESA INC.
COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES
The following computations of the ratio of earnings to fixed charges for
the six months ended June 30, 1994 and for the years ended December 31, 1993,
1992, 1991, 1990 and 1989 represent the actual results of Mesa's operations for
those periods.
SIX
MONTHS
ENDED YEARS ENDED DECEMBER 31
JUNE 30, ------------------------------------------------------
1994 1993 1992 1991 1990 1989
-------- --------- -------- -------- --------- --------
Net loss....................... $(43,104) $(102,448) $(89,232) $(79,163) $(200,276) $(60,414)
Adjustments --
Loss on investment accounted
for under the equity
method.................... -- -- -- -- -- 13,268
Minority interest in loss.... -- (4,318) (3,854) (3,419) (8,649) (2,609)
Interest expense............. 72,975 142,002 143,392 150,770 186,700 183,908
-------- --------- -------- -------- --------- --------
Total Earnings....... $ 29,871 $ 35,236 $ 50,306 $ 68,188 $ (22,225) $134,153
======== ========= ======== ======== ========= ========
Fixed charges:
Interest expense............. $ 72,975 $ 142,002 $143,392 $150,770 $ 186,700 $183,908
======== ========= ======== ======== ========= ========
Ratio of earnings to fixed
charges...................... (a) (a) (a) (a) (a) (a)
======== ========= ======== ======== ========= ========
Fixed charges in excess of
earnings(a).................. $ 43,104 $ 106,766 $ 93,086 $ 82,582 $ 208,925 $ 49,755
======== ========= ======== ======== ========= ========
- - ---------------
(a) Earnings were not adequate to cover fixed charges in the indicated periods.