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Content analysis
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Exhibit 12.1
Marathon Oil Corporation
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
TOTAL ENTERPRISE BASIS—Unaudited
(Dollars in Millions)
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| Nine Months |
| Year Ended December 31 |
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| 2005 |
| 2004 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
| 2000 |
| |||||||
Portion of rentals representing interest |
| $ | 45 |
| $ | 42 |
| $ | 57 |
| $ | 63 |
| $ | 66 |
| $ | 54 |
| $ | 50 |
|
Capitalized interest, including discontinued operations |
| 73 |
| 34 |
| 48 |
| 41 |
| 16 |
| 27 |
| 19 |
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Other interest and fixed charges, including discontinued operations |
| 175 |
| 206 |
| 279 |
| 270 |
| 316 |
| 349 |
| 375 |
| |||||||
Pretax earnings which would be required to cover preferred stock dividend requirements of parent |
| — |
| — |
| — |
| — |
| — |
| 12 |
| 12 |
| |||||||
Combined fixed charges and preferred stock dividends (A) |
| $ | 293 |
| $ | 282 |
| $ | 384 |
| $ | 374 |
| $ | 398 |
| $ | 442 |
| $ | 456 |
|
Earnings-pretax income with applicable adjustments (B). |
| $ | 3,332 |
| $ | 1,981 |
| $ | 2,843 |
| $ | 2,422 |
| $ | 1,446 |
| $ | 3,365 |
| $ | 1,884 |
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Ratio of (B) to (A) |
| 11.37 |
| 7.02 |
| 7.40 |
| 6.48 |
| 3.63 |
| 7.61 |
| 4.12 |
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