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Previous: CHEVRON CORP, 10-Q, 2000-08-09 |
Next: CHEVRON CORP, 10-Q, EX-27, 2000-08-09 |
<TABLE>
<CAPTION>
Exhibit 12
CHEVRON CORPORATION - TOTAL ENTERPRISE BASIS
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)
(Dollars in Millions)
Six Months
Ended Year Ended December 31,
------------------------------------------------
June 30, 2000 1999 1998 1997 1996 1995
------------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net Income $2,160 $2,070 $1,339 $3,256 $2,607 $ 930
Income Tax Expense 1,823 1,578 495 2,246 2,133 859
Distributions (Less Than)
Greater Than Equity in Earnings of
Affiliates (72) (258) 25 (353) 83 (132)
Minority Interest 3 4 7 11 4 -
Previously Capitalized Interest
Charged to Earnings During Period 21 9 35 28 24 44
Interest and Debt Expense 255 472 405 312 364 401
Interest Portion of Rentals (2) 105 160 172 151 143 133
------- ------ ------- ------- ------- -------
Earnings before Provisions for
Taxes and Fixed Charges $4,295 $4,035 $2,478 $5,651 $5,358 $2,235
======= ====== ======= ======= ======= =======
Interest and Debt Expense $ 255 $ 472 $ 405 $ 312 $ 364 $ 401
Interest Portion of Rentals (2) 105 160 172 151 143 133
Capitalized Interest 9 59 39 82 108 138
------- ------ ------- ------- ------- -------
Total Fixed Charges $ 369 $ 691 $ 616 $ 545 $ 615 $ 672
======= ====== ======= ======= ======= =======
-------------------------------------------------------------------------------------------------------------------
Ratio of Earnings to Fixed Charges 11.64 5.84 4.02 10.37 8.71 3.33
-------------------------------------------------------------------------------------------------------------------
<FN>
(1) Presentation of 1999 and prior years revised to conform to methodology for
calculating Earnings and Fixed Charges prescribed by Item 503 of
Regulation S-K, amended in 1998.
(2) Calculated as one-third of rentals.
</FN>
</TABLE>
-27-
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