Halliburton (HAL) 10-Q 2009 Q3 Quarterly report

EXHIBIT 12.1

HALLIBURTON COMPANY

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

(Millions of dollars, except ratios)

	Nine
	Months
	Ended
	September 30,		Year Ended December 31
		2009		2008		2007		2006		2005		2004
Earnings available for fixed charges:
Income from continuing operations
before income taxes and noncontrolling interest	$	1,336	$	3,849	$	3,447	$	3,185	$	1,985	$	978
Add:
Distributed earnings from equity in
unconsolidated affiliates		8		30		43		28		34		30
Fixed charges		263		232		222		238		260		278
Subtotal		1,607		4,111		3,712		3,451		2,279		1,286
Less:
Equity in earnings of unconsolidated
affiliates		11		50		57		65		42		47
Total earnings available for fixed charges	$	1,596	$	4,061	$	3,655	$	3,386	$	2,237	$	1,239
Fixed charges:
Interest expense	$	215	$	167	$	168	$	179	$	208	$	232
Rental expense representative of interest		48		65		54		59		52		46
Total fixed charges	$	263	$	232	$	222	$	238	$	260	$	278
Ratio of earnings to fixed charges		6.1		17.5		16.5		14.2		8.6		4.5

 All periods presented reflect the adoption of new accounting standards and the reclassification of KBR, Inc. to discontinued operations.