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EXHIBIT 12
UNION PACIFIC RESOURCES GROUP INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in Thousands, Except Ratios)
(Unaudited)
Nine Months
Ended September 30,
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1995 1996
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Income before income taxes......................... $ 272,994 $ 304,802
Add (deduct) distributions greater (less) than
income of unconsolidated affiliates.............. 3,337 (1,866)
Fixed charges from below........................... 9,354 43,681
Capitalized interest included in fixed charges..... (719) (124)
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Earnings available for fixed charges.......... $ 284,966 $ 346,493
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Fixed charges:
Interest expense (a)............................. $ 3,425 $ 37,976
Amortization of debt expense/discount............ -- 565
Portion of rentals representing an interest
factor......................................... 5,210 5,016
Interest capitalized............................. 719 124
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Total fixed charges........................... $ 9,354 $ 43,681
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Ratio of earnings to fixed charges (a)............. 30.5 7.9
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(a) In 1996, interest expense includes the effects of debt incurred in October
1995 in connection with the Company's initial public offering (see Note 2
to the Condensed Consolidated Financial Statements).