Halliburton (HAL) 10-Q 2011 Q2 Quarterly report

EXHIBIT 12.1

HALLIBURTON COMPANY

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

(Millions of dollars, except ratios)

	Six Months Ended June 30,		Year Ended December 31
	2011		2010		2009		2008		2007		2006
Earnings available for fixed charges:
Income from continuing operations
before income taxes and noncontrolling	$	1,834	$	2,655	$	1,682	$	3,849	$	3,447	$	3,186
interest
Add:
Distributed earnings from equity in
unconsolidated affiliates		6		13		17		30		43		28
Fixed charges		183		402		361		232		222		238
Subtotal		2,023		3,070		2,060		4,111		3,712		3,452
Less:
Equity in earnings of unconsolidated
affiliates		11		20		16		50		57		65
Total earnings available for fixed charges	$	2,012	$	3,050	$	2,044	$	4,061	$	3,655	$	3,387
Fixed charges:
Interest expense	$	135	$	308	$	297	$	167	$	168	$	179
Rental expense representative of interest		48		94		64		65		54		59
Total fixed charges	$	183	$	402	$	361	$	232	$	222	$	238
Ratio of earnings to fixed charges		11.0		7.6		5.7		17.5		16.5		14.2