Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||
Six Months Ended | ||||||||
June 30 | ||||||||
2010 | 2009 | ** | ||||||
Earnings Available for Fixed Charges | ||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 10,154 | 3,907 | |||||
Distributions less than equity in earnings of affiliates | (1,189 | ) | (606 | ) | ||||
Fixed charges, excluding capitalized interest* | 859 | 781 | ||||||
$ | 9,824 | 4,082 | ||||||
Fixed Charges | ||||||||
Interest and debt expense, excluding capitalized interest | $ | 650 | 578 | |||||
Capitalized interest | 239 | 249 | ||||||
Interest portion of rental expense | 102 | 103 | ||||||
$ | 991 | 930 | ||||||
Ratio of Earnings to Fixed Charges | 9.9 | 4.4 | ||||||
*Includes amortization of capitalized interest totaling approximately $107 million in 2010 and $99 million in 2009. | ||
**Recast to reflect a change in accounting principle. See Note 2—Changes in Accounting Principles in the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2010, for more information. |