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EXHIBIT 12
The Williams Companies, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)
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Six months ended
June 30, 2000
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Earnings:
Income before income taxes and cumulative
effect of change in accounting principle $ 784.6
Add:
Interest expense - net 356.1
Rental expense representative of interest factor 86.3
Minority interest in income (loss) and preferred returns
of consolidated subsidiaries (13.0)
Interest accrued - 50% owned company 4.1
Equity losses in less than 50% owned companies 14.1
Equity earnings in less than 50% owned
companies in excess of distributions (7.1)
Other 2.4
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Total earnings as adjusted plus fixed charges $ 1,227.5
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Fixed charges:
Interest expense - net $ 356.1
Capitalized interest 88.6
Rental expense representative of interest factor 86.3
Pretax effect of preferred returns of subsidiaries 21.6
Interest accrued - 50% owned company 4.1
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Total fixed charges $ 556.7
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Ratio of earnings to fixed charges 2.20
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