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Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
| Millions of Dollars | ||||||||
| Six Months Ended June 30 | ||||||||
| 2018 | 2017 | |||||||
|
| |||||||
Earnings Available for Fixed Charges | ||||||||
Income (loss) before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 4,369 | (4,620 | ) | ||||
Distributions greater (less) than equity in earnings of affiliates | 94 | (121 | ) | |||||
Fixed charges, excluding capitalized interest* | 464 | 773 | ||||||
| ||||||||
| $ | 4,927 | (3,968 | ) | |||||
| ||||||||
Fixed Charges | ||||||||
Interest and debt expense, excluding capitalized interest | $ | 361 | 621 | |||||
Capitalized interest | 82 | 55 | ||||||
Interest portion of rental expense | 32 | 65 | ||||||
| ||||||||
| $ | 475 | 741 | ||||||
| ||||||||
Ratio of Earnings to Fixed Charges** | 10.4 | — | ||||||
| ||||||||
*Includes amortization of capitalized interest totaling approximately $72 million in 2018 and $87 million in 2017.
**Earnings for thesix-month period ended June 30, 2017 were inadequate to cover fixed charges by $4,709 million.