Exhibit 12
Computation in Support of Ratio of Earnings to Fixed Charges
For Six Months Ended June 30, 2000
(Thousands of Dollars)
Earnings:
Net income* $157,851
Plus: Fixed charges (see below) 111,398
Income taxes* 96,716
Amortization of capitalized interest 43
Less: Capitalized interest (2,727)
Total Earnings $363,281
Fixed Charges:
Interest on long-term debt $ 83,002
Other interest 25,215
Estimated interest component of rentals 3,181
Total Fixed Charges $111,398
Ratio of Earnings to Fixed Charges 3.26
*Net income and income taxes excludes extraordinary charges
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