Enron Corp/OR – ‘10-K’ for 12/31/99 – EX-12

On:  Thursday, 3/30/00   ·   For:  12/31/99   ·   Accession #:  1024401-0-2   ·   File #:  1-13159

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                        123±   488K 
 2: EX-10.02    Material Contracts                                     2±    11K 
 3: EX-10.11    Material Contracts                                     2±    10K 
 4: EX-10.17    Material Contracts                                     2±    11K 
 5: EX-10.18    Material Contracts                                     2±    13K 
 6: EX-10.19    Material Contracts                                     2±    12K 
 7: EX-10.26    Material Contracts                                     7±    25K 
 8: EX-10.36    Material Contracts                                     2±    12K 
 9: EX-10.48    Material Contracts                                    10±    35K 
10: EX-10.51    Material Contracts                                     4±    20K 
11: EX-10.53    Material Contracts                                     3±    14K 
12: EX-10.54    Material Contracts                                     3±    17K 
13: EX-10.56    Material Contracts                                     4±    18K 
14: EX-10.57    Material Contracts                                    16±    66K 
15: EX-12       Statement Re Computation of Ratios                     1      8K 
16: EX-21       Subsidiaries of the Registrant                        50±   179K 
17: EX-23       Consents of Experts and Counsel                        1      9K 
18: EX-24       Power of Attorney                                     19     49K 
19: EX-27       Article 5 FDS for 10-K                                 1      8K 

EX-12   —   Statement Re Computation of Ratios

                                                            Exhibit 12

                                                                [Download Table]

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


(In Millions)                                   Year Ended December 31,        
                                        1999     1998    1997    1996     1995 

                                                                               
Earnings available for fixed charges                                           
  Income from continuing operations    $1,024   $  703   $105   $  584   $  520
  Less:                                                                        
     Undistributed earnings and                                                
      losses of less than 50% owned                                            
      affiliates                          (12)     (44)   (89)     (39)    (14)
     Capitalized interest of                                                   
      nonregulated companies              (61)     (66)   (16)     (10)     (8)
  Add:                                                                         
     Fixed charges(a)                     948      809    674      454     436 
     Minority interest                    135       77     80       75      27 
     Income tax expense                   137      204    (65)     297     310 

       Total                           $2,171   $1,683   $689   $1,361  $1,271 

Fixed charges                                                                  
  Interest expense(a)                  $  900   $  760   $624   $  404  $  386 
  Rental expense representative of                                             
   interest factor                         48       49     50       50      50 

     Total                             $  948   $  809   $674   $  454  $  436 

Ratio of earnings to fixed charges       2.29     2.08   1.02     3.00    2.92 

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