ConocoPhillips (COP) 10-Q 2010 Q2 Quarterly report

Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
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.