EXHIBIT 12
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)
|
| Three Months Ended |
| Year Ended |
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|
| March 31 |
| December 31 |
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|
| 2009 |
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| 2008 |
|
| 2008 |
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| 2007 |
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| 2006 |
|
| 2005 |
|
| 2004 |
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Income from continuing operations |
| $ | 380 |
| $ | 1,848 |
| $ | 6,955 |
| $ | 5,153 |
| $ | 4,313 |
| $ | 4,912 |
| $ | 2,273 |
|
Add: |
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|
|
|
|
|
|
|
|
|
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|
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|
|
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Adjusted income from equity investments (a) |
|
| (24 | ) |
| (27 | ) |
| (84 | ) |
| (28 | ) |
| (52 | ) |
| (53 | ) |
| (5 | ) |
|
|
| 356 |
|
| 1,821 |
|
| 6,871 |
|
| 5,125 |
|
| 4,261 |
|
| 4,859 |
|
| 2,268 |
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Add: |
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|
|
|
|
|
|
|
|
|
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|
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Provision for taxes on income (other than foreign oil and gas taxes) |
|
| 50 |
|
| 541 |
|
| 2,213 |
|
| 1,577 |
|
| 1,545 |
|
| 632 |
|
| 891 |
|
Interest and debt expense |
|
| 28 |
|
| 38 |
|
| 133 |
|
| 344 |
|
| 297 |
|
| 305 |
|
| 270 |
|
Portion of lease rentals representative of the interest factor |
|
| 12 |
|
| 7 |
|
| 58 |
|
| 60 |
|
| 52 |
|
| 47 |
|
| 40 |
|
|
|
| 90 |
|
| 586 |
|
| 2,404 |
|
| 1,981 |
|
| 1,894 |
|
| 984 |
|
| 1,201 |
|
Earnings before fixed charges |
| $ | 446 |
| $ | 2,407 |
| $ | 9,275 |
| $ | 7,106 |
| $ | 6,155 |
| $ | 5,843 |
| $ | 3,469 |
|
Fixed charges |
|
|
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|
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|
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|
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Interest and debt expense including capitalized interest |
| $ | 54 |
| $ | 50 |
| $ | 201 |
| $ | 403 |
| $ | 352 |
| $ | 331 |
| $ | 285 |
|
Portion of lease rentals representative of the interest factor |
|
| 12 |
|
| 7 |
|
| 58 |
|
| 60 |
|
| 52 |
|
| 47 |
|
| 40 |
|
Total fixed charges |
| $ | 66 |
| $ | 57 |
| $ | 259 |
| $ | 463 |
| $ | 404 |
| $ | 378 |
| $ | 325 |
|
Ratio of earnings to fixed charges |
|
| 6.76 |
|
| 42.23 |
|
| 35.81 |
|
| 15.35 |
|
| 15.24 |
|
| 15.46 |
|
| 10.67 |
|
(a) | Represents income from equity investments adjusted to reflect only dividends received. |
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