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Previous: CHEVRON CORP, 10-Q, 2000-11-08 |
Next: CHEVRON CORP, 10-Q, EX-27, 2000-11-08 |
<TABLE>
<CAPTION>
Exhibit 12
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CHEVRON CORPORATION - TOTAL ENTERPRISE BASIS
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)
(Dollars in Millions)
Nine Months Year Ended December 31,
Ended ------------------------------------------------
September 30, 2000 1999 1998 1997 1996 1995
------------------ -------- ------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Net Income $3,691 $2,070 $ 1,339 $3,256 $2,607 $ 930
Income Tax Expense 2,962 1,578 495 2,246 2,133 859
Distributions (Less Than)
Greater Than Equity in Earnings of
Affiliates (247) (258) 25 (353) 83 (132)
Minority Interest 4 4 7 11 4 -
Previously Capitalized Interest
Charged to Earnings During Period 37 9 35 28 24 44
Interest and Debt Expense 357 472 405 312 364 401
Interest Portion of Rentals (2) 173 160 172 151 143 133
------- -------- ------- ------- ------- -------
Earnings before Provisions for
Taxes and Fixed Charges $6,977 $4,035 $2,478 $5,651 $ 5,358 $2,235
======= ======== ======= ======= ====== =======
Interest and Debt Expense $ 357 $ 472 $ 405 $ 312 $ 364 $ 401
Interest Portion of Rentals (2) 173 160 172 151 143 133
Capitalized Interest 20 59 39 82 108 138
------- -------- ------- ------- ------- -------
Total Fixed Charges $ 550 $ 691 $ 616 $ 545 $ 615 $ 672
======= ======== ======= ======= ======= =======
-------------------------------------------------------------------------------------------------------------------
Ratio of Earnings to Fixed Charges 12.69 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>
-28-
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