EXHIBIT 12
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)
<TABLE>
<CAPTION>
Nine Months Ended
September 30 Year Ended December 31
-------------------- -----------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
---------------------------------------- --------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Income (loss) from continuing
operations(a) $ 1,373 $ 156 $ 699 $ 400 $ 245 $ 486 $ 325
--------- --------- --------- --------- --------- --------- ---------
Add:
Provision (credit) for taxes on
income (other than foreign
and gas taxes) 698 53 306 204 47 99 155
Interest and debt expense(b) 404 391 515 576 446 492 591
Portion of lease rentals
representative of the interest
factor 5 25 31 36 39 38 43
--------- --------- --------- --------- --------- --------- ---------
1,107 469 852 816 532 629 789
--------- --------- --------- --------- --------- --------- ---------
Earnings before fixed charges $ 2,480 $ 625 $ 1,551 $ 1,216 $ 777 $ 1,115 $ 1,114
========= ========= ========= ========= ========= ========= =========
Fixed charges
Interest and debt expense
including capitalized
interest(b) $ 404 $ 398 $ 522 $ 594 $ 462 $ 499 $ 595
Portion of lease rentals
representative of the interest
factor 5 25 31 36 39 38 43
--------- --------- --------- --------- --------- --------- ---------
Total fixed charges $ 409 $ 423 $ 553 $ 630 $ 501 $ 537 $ 638
========= ========= ========= ========= ========= ========= =========
Ratio of earnings to fixed charges 6.06 1.48 2.80 1.93 1.55 2.08 1.75
---------------------------------------- ========= ========= ========= ========= ========= ========= =========
</TABLE>
(a) Includes (1) minority interest in net income of majority-owned subsidiaries
and partnerships having fixed charges and (2) income from
less-than-50-percent-owned equity investments adjusted to reflect only
dividends received.
(b) Includes proportionate share of interest and debt expense of
50-percent-owned equity investments.
