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Previous: PHELPS DODGE CORP, 10-Q, EX-3.2, 2000-11-14 |
Next: PHELPS DODGE CORP, 10-Q, EX-15, 2000-11-14 |
<PAGE> 1
PHELPS DODGE CORPORATION AND SUBSIDIARIES
Exhibit 12
COMPUTATION OF TOTAL DEBT TO TOTAL CAPITALIZATION
(Unaudited; dollars in millions)
<TABLE>
<CAPTION>
September 30 December 31,
2000 1999
------------ ------------
<S> <C> <C>
Short-term debt ................................. $ 473.4 451.2
Current portion of long-term debt ............... 203.7 131.3
Long-term debt .................................. 2,031.6 2,172.5
------------ ------------
Total debt ................................. 2,708.7 2,755.0
Minority interests in subsidiaries .............. 88.0 96.3
Common shareholders' equity ..................... 3,156.0 3,276.8
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Total capitalization ....................... $ 5,952.7 6,128.1
============ ============
Ratio of total debt to total capitalization ..... 45.5% 45.0%
============ ============
</TABLE>
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