OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)
Nine Months Ended September 30 | Year Ended December 31 | |||||||||||||||||||||
2009 | 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Income from continuing operations | $ | 2,019 | $ | 6,495 | $ | 6,955 | $ | 5,153 | $ | 4,313 | $ | 4,912 | $ | 2,273 | ||||||||
Add: | ||||||||||||||||||||||
Adjusted income from equity investments(a) | (88 | ) | (103 | ) | (84 | ) | (28 | ) | (52 | ) | (53 | ) | (5 | ) | ||||||||
Provision for taxes on income (other than foreign oil and gas taxes) | 397 | 1,982 | 2,213 | 1,577 | 1,545 | 632 | 891 | |||||||||||||||
Interest and debt expense | 102 | 97 | 133 | 344 | 297 | 305 | 270 | |||||||||||||||
Portion of lease rentals representative of the interest factor | 36 | 31 | 58 | 60 | 52 | 47 | 40 | |||||||||||||||
447 | 2,007 | 2,320 | 1,953 | 1,842 | 931 | 1,196 | ||||||||||||||||
Earnings before fixed charges | $ | 2,466 | $ | 8,502 | $ | 9,275 | $ | 7,106 | $ | 6,155 | $ | 5,843 | $ | 3,469 | ||||||||
Fixed charges | ||||||||||||||||||||||
Interest and debt expense including capitalized interest | $ | 167 | $ | 140 | $ | 201 | $ | 403 | $ | 352 | $ | 331 | $ | 285 | ||||||||
Portion of lease rentals representative of the interest factor | 36 | 31 | 58 | 60 | 52 | 47 | 40 | |||||||||||||||
Total fixed charges | $ | 203 | $ | 171 | $ | 259 | $ | 463 | $ | 404 | $ | 378 | $ | 325 | ||||||||
Ratio of earnings to fixed charges | 12.15 | 49.72 | 35.81 | 15.35 | 15.24 | 15.46 | 10.67 |
(a) | Represents adjustments to arrive at distributed income from equity investees. |