Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||||
Income from continuing operations before income taxes and minority interest | $ | 9,957 | (3,565 | ) | 23,310 | 28,371 | 23,547 | |||||||||||||
Distributions less than equity in earnings of fifty-percent-or-less-owned companies | (1,704 | ) | 5,790 | (1,839 | ) | (962 | ) | (1,785 | ) | |||||||||||
Fixed charges, excluding capitalized interest* | 1,700 | 1,288 | 1,680 | 1,410 | 747 | |||||||||||||||
$ | 9,953 | 3,513 | 23,151 | 28,819 | 22,509 | |||||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 1,289 | 935 | 1,253 | 1,087 | 497 | ||||||||||||||
Capitalized interest | 487 | 568 | 565 | 458 | 395 | |||||||||||||||
Preferred dividend requirements of subsidiary and capital trusts | — | — | — | — | — | |||||||||||||||
Interest portion of rental expense | 205 | 207 | 171 | 232 | 188 | |||||||||||||||
Interest expense relating to guaranteed debt of fifty-percent-or-less-owned companies | — | 3 | 19 | — | — | |||||||||||||||
Interest expense relating to guaranteed debt of greater than fifty-percent-owned companies | — | — | — | — | — | |||||||||||||||
$ | 1,981 | 1,713 | 2,008 | 1,777 | 1,080 | |||||||||||||||
Ratio of Earnings to Fixed Charges | 5.0 | 2.1 | 11.5 | 16.2 | 20.8 | |||||||||||||||
* | Includes amortization of capitalized interest totaling approximately $206 million in 2009, $143 million in 2008, $237 million in 2007, $92 million in 2006 and $62 million in 2005. |