Hess (HES) 8-K Other Events

Exhibit 12.1

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)

				YEARS ENDED DECEMBER 31,
	Three Months Ended
	March 31, 2014			2013			2012			2011		2010			2009
Earnings
Consolidated income from continuing operations before income taxes	$	658		$	4,493		$	3,426		$	2,240	$	3,033		$	1,168
Add: Fixed charges (excluding capitalized interest)		111			488			517			499		490			500
Add: Amortization of capitalized interest		6			25			30			39		52			44
Add: Distributed earnings of equity investees		—			3			11			9		7			5
Less: (Earnings)/losses of equity investees		95			(17	)		(12	)		1,068		506			220
Less: Pretax noncontrolling interests in (income) loss of consolidated subsidiaries with no fixed charges		(36	)		(171	)		(44	)		32		(12	)		(64	)
Total earnings	$	834		$	4,821		$	3,928		$	3,887	$	4,076		$	1,873
Fixed Charges
Interest expense (a)	$	93		$	416		$	429		$	391	$	369		$	367
Interest capitalized		19			60			28			13		5			6
Total interest incurred (including amortization of debt discount)		112			476			457			404		374			373
Portion of rent expense representative of interest (b)		18			72			88			108		121			133
Total fixed charges	$	130		$	548		$	545		$	512	$	495		$	506
Ratio of Earnings to Fixed Charges		6.4			8.8			7.2			7.6		8.2			3.7

(a) Includes amortization of debt issue costs and discounts or premiums.

(b) Represents management’s estimate of the interest portion of rent expense.