1
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 years ended December 31, 1993, 1992, 1991, 1990 and 1989 represent the
actual results of Mesa's operations for those periods.
YEARS ENDED DECEMBER 31
------------------------------------------------------
1993 1992 1991 1990 1989
--------- -------- -------- --------- --------
Net loss.................................. $(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........................ 142,002 143,392 150,770 186,700 183,908
--------- -------- -------- --------- --------
Total Earnings.................. $ 35,236 $ 50,306 $ 68,188 $ (22,225) $134,153
--------- -------- -------- --------- --------
--------- -------- -------- --------- --------
Fixed charges:
Interest expense........................ $ 142,002 $143,392 $150,770 $ 186,700 $183,908
--------- -------- -------- --------- --------
--------- -------- -------- --------- --------
Ratio of earnings to fixed charges........ (a) (a) (a) (a) (a)
--------- -------- -------- --------- --------
--------- -------- -------- --------- --------
Fixed charges in excess of earnings(a).... $ 106,766 $ 93,086 $ 82,582 $ 208,925 $ 49,755
--------- -------- -------- --------- --------
--------- -------- -------- --------- --------
- ---------------
(a) Earnings were not adequate to cover fixed charges in the indicated periods.