ConocoPhillips (COP) 10-Q 2014 Q3 Quarterly report

Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES

TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges

	Millions of Dollars
	Nine Months Ended September 30
	2014			2013
Earnings Available for Fixed Charges
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges	$	9,656			11,844
Distributions greater (less) than equity in earnings of affiliates		334	*		(585	)
Fixed charges, excluding capitalized interest**		614			548
	$	10,604			11,807
Fixed Charges
Interest and debt expense, excluding capitalized interest	$	475			420
Capitalized interest		372			538
Interest portion of rental expense		57			50
	$	904			1,008
Ratio of Earnings to Fixed Charges		11.7			11.7

  * Includes a significant distribution from a Canadian joint venture.

** Includes amortization of capitalized interest totaling approximately $82 million in 2014 and $78 million in 2013.