Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
| Millions of Dollars | ||||||||
| Nine Months Ended September 30 | ||||||||
| 2016 | 2015 | |||||||
|
| |||||||
Earnings Available for Fixed Charges | ||||||||
Loss before income taxes and noncontrolling interests that have not incurred fixed charges | $ | (5,562 | ) | (2,232 | ) | |||
Distributions received greater than equity losses (undistributed equity earnings) | 414 | (79 | ) | |||||
Fixed charges, excluding capitalized interest* | 1,105 | 849 | ||||||
| ||||||||
| $ | (4,043 | ) | (1,462 | ) | ||||
| ||||||||
Fixed Charges | ||||||||
Interest and debt expense, excluding capitalized interest | $ | 928 | 652 | |||||
Capitalized interest | 125 | 255 | ||||||
Interest portion of rental expense | 53 | 86 | ||||||
| ||||||||
| $ | 1,106 | 993 | ||||||
| ||||||||
Ratio of Earnings to Fixed Charges** | — | — | ||||||
| ||||||||
*Includes amortization of capitalized interest totaling approximately $124 million in 2016 and $111 million in 2015.
**Earnings for the nine-month periods ended September 30, 2016 and 2015 were inadequate to cover fixed charges by $5,149 million and $2,455 million, respectively.