EXHIBIT 12.2
TRITON ENERGY LIMITED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE
DIVIDENDS
(IN THOUSANDS, EXCEPT RATIOS)
(UNAUDITED)
<TABLE>
<CAPTION>
NINE MONTHS ENDING
SEPTEMBER 30, YEAR ENDING DECEMBER 31,
-------------------- ------------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
--------- --------- --------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Fixed charges, as defined:
Interest charges $ 29,165 $ 28,951 $ 38,231 $ 50,253 $ 50,625 $ 43,884 $ 41,305
Preference dividend requirements of
the Company 22,016 21,308 28,671 3,061 400 985 802
Preferred dividend requirements of
subsidiaries adjusted to pre-tax basis --- --- --- --- --- --- ---
--------- --------- --------- ---------- --------- --------- ---------
Total fixed charges $ 51,181 $ 50,259 $ 66,902 $ 53,314 $ 51,025 $ 44,869 $ 42,107
========= ========= ========= ========== ========= ========= =========
Earnings, as defined (2):
Earnings (loss) from continuing operations
before income taxes and extraordinary item $120,162 $ 44,937 $ 76,177 $(238,609) $ 16,896 $ 20,945 $ 16,600
Fixed charges, above 51,181 50,259 66,902 53,314 51,025 44,869 42,107
Less interest capitalized (17,213) (10,466) (14,539) (23,215) (25,818) (27,102) (16,211)
Plus undistributed (earnings) loss of affiliates 28 --- 28 --- --- (118) 2,249
Less preference dividend requirements of
the Company and its subsidiaries adjusted
to pre-tax basis (22,016) (21,308) (28,671) (3,061) (400) (985) (802)
--------- --------- --------- ---------- --------- --------- ---------
$132,142 $ 63,422 $ 99,897 $(211,571) $ 41,703 $ 37,609 $ 43,943
========= ========= ========= ========== ========= ========= =========
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERENCE DIVIDENDS (1) (2) 2.6 1.3 1.5 --- 0.8 0.8 1.0
========= ========= ========= ========== ========= ========= =========
____________________
</TABLE>
(1) Earnings were inadequate to cover combined fixed charges and preference
dividends for the years ended December 31, 1998, 1997 and 1996 by $264,885,000,
$9,322,000 and $7,260,000, respectively.
(2) Earnings reflect nonrecurring writedowns and loss provisions of
$18,477,000 and $3,597,000 for the nine months ended September 30, 2000 and
1999, respectively, $5,159,000, $348,064,000, $46,153,000 and $1,058,000 for the
years ended December 31, 1999, 1998, 1996 and 1995, respectively. Nonrecurring
gains from the sale of assets and other gains aggregated $422,000 for the nine
months ended September 30, 1999, $442,000, $125,617,000, $6,253,000, $22,189,000
and $13,617,000 for the years ended December 31, 1999, 1998, 1997, 1996 and
1995, respectively. The ratio of earnings to combined fixed charges and
preference dividends if adjusted to remove nonrecurring items, would have been
2.9 and 1.3 for the nine months ended September 30, 2000 and 1999, respectively,
1.6, 0.2, 0.7, 1.4 and 0.7 for the years ended December 31, 1999, 1998, 1997,
1996 and 1995, respectively. Without nonrecurring items, earnings would have
been inadequate to cover combined fixed charges and preference dividends for the
years ended December 31, 1998, 1997 and 1995 by $42,438,000, $15,575,000 and
$10,723,000, respectively.
