1
EXHIBIT (12a)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FINA, INC. CONSOLIDATED
For the Three
Months Ended
March 31, For the Fiscal Years Ended December 31,
--------------- -------------------------------------------------
1996 1995 1995 1994 1993 1992 1991
------ ------ ------- ------- ------- ------- -------
Net pre-tax earnings 57,558 51,438 161,078 152,357 96,115 20,110 53,563
Fixed charges 13,878 15,832 61,561 56,010 69,106 71,743 87,199
Adjustment for Capitalized
Interest (1,192) (1,350) (7,873) (2,422) (3,234) (2,702) (12,371)
------ ------ ------- ------- ------- ------- -------
Earnings as adjusted (A) 70,244 65,920 214,766 205,945 161,987 89,151 128,391
Fixed charges:
Interest expense 10,930 13,308 50,707 47,023 58,190 61,762 79,178
Rents under leases representative
of an interest factor(1) 2,948 2,524 10,854 8,987 10,916 9,981 8,021
------ ------ ------- ------- ------- ------- -------
Fixed charges as adjusted (B) 13,878 15,832 61,561 56,010 69,106 71,743 87,199
Ratio of earnings to fixed
charges: (A) divided by (B) 5.1 4.2 3.5 3.7 2.3 1.2 1.5
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FOCC CONSOLIDATED
For the Three
Months Ended
March 31, For the Fiscal Years Ended December 31,
--------------- --------------------------------------------------
1996 1995 1995 1994 1993 1992 1991
------ ------ ------- ------- ------- ------- -------
Net pre-tax earnings 41,055 50,384 152,824 145,819 100,147 17,818 53,901
Fixed charges 13,843 15,801 61,420 55,863 68,747 71,557 86,852
Adjustment for Capitalized
Interest (1,184) (1,335) (7,788) (2,371) (3,198) (2,663) (12,269)
------ ------ ------- ------- ------- ------- -------
Earnings as adjusted (A) 53,714 64,850 206,456 199,311 165,696 86,712 128,484
Fixed charges:
Interest expense 10,928 13,307 50,706 47,021 58,182 61,717 79,005
Rents under leases representative
of an interest factor(1) 2,915 2,494 10,714 8,842 10,565 9,840 7,847
------ ------ ------- ------- ------- ------- -------
Fixed charges as adjusted (B) 13,843 15,801 61,420 55,863 68,747 71,557 86,852
Ratio of earnings to fixed
charges: (A) divided by (B) 3.9 4.1 3.4 3.6 2.4 1.2 1.5
(1) Management of the Company believes approximately one-third of rental and
lease expense is representative of the interest component of rent expense.