ConocoPhillips (COP) 10-Q2009 Q2 Quarterly report

Filed: 4 Aug 09, 12:00am

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New words: America, approach, assist, authoritative, backdrop, benchmark, cease, central, characterized, Codification, compressed, concept, configured, corroborated, differential, duration, elimination, enterprise, Entry, eventual, GAAP, illegally, intermittent, literature, logical, mandate, misleading, nonrecognized, Nursultan, partly, peaked, pertaining, purpose, qualitative, quantitative, recession, rehearing, run, shale, sharply, slowdown, SPE, spread, supersede, suppressed, translation, upward, wastewater, written, WTI

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Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges


	Millions of Dollars
	Six Months Ended
	June 30
	2009			2008

Earnings Available for Fixed Charges
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges	$	4,393			17,358
Distributions less than equity in earnings of affiliates		(1,092	)		(1,991	)
Fixed charges, excluding capitalized interest*		781			551

	$	4,082			15,918


Fixed Charges
Interest and debt expense, excluding capitalized interest	$	578			417
Capitalized interest		249			315
Interest portion of rental expense		103			85

	$	930			817

Ratio of Earnings to Fixed Charges		4.4			19.5


*		Includes amortization of capitalized interest totaling approximately $99 million in 2009 and $48 million in 2008.