Enron Corp – ‘10-K’ for 12/31/95 – EX-12

As of:  Friday, 3/29/96   ·   For:  12/31/95   ·   Accession #:  72859-96-4   ·   File #:  1-03423

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Enron Corp. 1995 Form 10-K                           121±   514K 
 2: EX-3.02     Bylaws of Enron Corp.                                 22±    91K 
 3: EX-10.02    First Amendment to Enron Executive Supplemental        1     10K 
                          Survivor Benefits Plan                                 
 4: EX-10.06    First Amendment to Enron Corp. 1988 Deferral Plan      1      9K 
 5: EX-10.07    Second Amendment to Enron Corp. 1988 Deferral Plan     2±    11K 
 6: EX-10.10    First Amendment to Enron Corp. 1992 Deferral Plan      2±    11K 
 7: EX-10.11    Second Amendment to Enron Corp. 1992 Deferral Plan     3±    16K 
 8: EX-10.31    Second Amendment to Employment Agreement of Rodney     3     21K 
                          L. Gray                                                
 9: EX-10.35    Fourth Amendment to Consulting Services Agreement      3±    14K 
                          of John A. Urquhart                                    
10: EX-10.36    Fifth Amendment to Consulting Services Agreement       3±    14K 
                          of John A. Urquhart                                    
11: EX-10.37    Sixth Amendment to Consulting Services Agreement       1     10K 
                          of John A. Urquhart                                    
12: EX-10.46    First Amendment to Enron Corp. Performance Unit        1     10K 
                          Plan                                                   
13: EX-10.48    First Amendment to Enron Corp. 1994 Deferral Plan      1     10K 
14: EX-10.49    Second Amendment to Enron Corp. 1994 Deferral Plan     3±    15K 
15: EX-11       Statement Re Computation of Per Share Earnings         1     10K 
16: EX-12       Statement Re Computation or Ratios                     1      9K 
17: EX-21       Subsidiaries of Registrant                            11±    44K 
18: EX-23.01    Consent of Independent Public Accountants              1     10K 
19: EX-23.02    Consent of Degolyer and Macnaughton                    1     12K 
20: EX-23.03    Letter Report of Degolyer and Macnaughton              3±    15K 
21: EX-24       Powers of Attorney                                    13     37K 
22: EX-27       Article 5 FDS for Year End 1995                        1      9K 

EX-12   —   Statement Re Computation or Ratios

                                                            Exhibit 12

                                                        [Enlarge/Download Table]

                       ENRON CORP. AND SUBSIDIARIES                                            
                    Computation of Ratio of Earnings to                                        
                               Fixed Charges                                                   
                                (Unaudited)                                                    


(In Thousands)                                           Year Ended December 31,               
                                          1995         1994       1993       1992       1991   

                                                                                               
Earnings available for fixed charges                                                           
  Income from continuing operations   $  519,694   $  453,410   $332,522   $328,800   $232,146 
  Less:                                                                                        
     Undistributed earnings and                                                                
      losses of less than 50% owned                                                            
      affiliates                         (13,505)      (9,453)   (20,232)   (32,526)    (8,890)
     Capitalized interest of                                                                   
      nonregulated companies             (17,315)      (9,007)   (25,434)   (66,401)   (36,537)
  Add:                                                                                         
     Fixed charges(1)                    435,681      487,258    471,278    452,014    454,607 
     Minority interest                    27,260       29,600     27,605     17,632      7,210 
     Income tax expense                  310,264      190,081    148,104     88,630    105,859 

       Total                          $1,262,079   $1,141,889   $933,843   $788,149   $754,395 

Fixed charges                                                                                  
  Interest expense(1)                 $  385,995   $  444,768   $436,211   $430,406   $425,945 
  Rental expense representative of                                                             
   interest factor                        49,686       42,490     35,067     21,608     28,662 

     Total                            $  435,681   $  487,258   $471,278   $452,014   $454,607 

Ratio of earnings to fixed charges          2.90         2.34       1.98       1.74       1.66 

<FN>                                                                                           
(1) Amounts exclude costs incurred on sales of accounts receivable.