Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||
Nine Months Ended | ||||||||
September 30 | ||||||||
2010 | 2009 | ** | ||||||
Earnings Available for Fixed Charges | ||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 15,414 | 6,804 | |||||
Distributions less than equity in earnings of affiliates | (1,642 | ) | (1,818 | ) | ||||
Fixed charges, excluding capitalized interest* | 1,223 | 1,220 | ||||||
$ | 14,995 | 6,206 | ||||||
Fixed Charges | ||||||||
Interest and debt expense, excluding capitalized interest | $ | 914 | 914 | |||||
Capitalized interest | 359 | 378 | ||||||
Interest portion of rental expense | 154 | 155 | ||||||
$ | 1,427 | 1,447 | ||||||
Ratio of Earnings to Fixed Charges | 10.5 | 4.3 | ||||||
* | Includes amortization of capitalized interest totaling approximately $155 million in 2010 and $150 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 September 30, 2010, for more information. |