OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES | |
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES | |
(Amounts in millions, except ratios) |
Six Months Ended | Year Ended | ||||||||||||||||||||||
June 30 | December 31 | ||||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||
Income from continuing operations | $ | 2,176 | $ | 1,076 | $ | 2,978 | $ | 6,955 | $ | 5,153 | $ | 4,313 | $ | 4,912 | |||||||||
Subtract: | |||||||||||||||||||||||
Net income attributable to noncontrolling interest | (36 | ) | (21 | ) | (51 | ) | (116 | ) | (75 | ) | (111 | ) | (74 | ) | |||||||||
Adjusted income from equity investments (a) | (67 | ) | (56 | ) | (88 | ) | (84 | ) | (28 | ) | (52 | ) | (53 | ) | |||||||||
2,073 | 999 | 2,839 | 6,755 | 5,050 | 4,150 | 4,875 | |||||||||||||||||
Add: | |||||||||||||||||||||||
Provision for taxes on income (other than foreign oil and gas taxes) | 629 | 206 | 695 | 2,213 | 1,577 | 1,545 | 632 | ||||||||||||||||
Interest and debt expense | 70 | 59 | 140 | 133 | 344 | 297 | 305 | ||||||||||||||||
Portion of lease rentals representative of the interest factor | 28 | 29 | 57 | 58 | 60 | 52 | 47 | ||||||||||||||||
727 | 294 | 892 | 2,404 | 1,981 | 1,894 | 984 | |||||||||||||||||
Earnings before fixed charges | $ | 2,800 | $ | 1,293 | $ | 3,731 | $ | 9,159 | $ | 7,031 | $ | 6,044 | $ | 5,769 | |||||||||
Fixed charges: | |||||||||||||||||||||||
Interest and debt expense including capitalized interest | $ | 108 | $ | 107 | $ | 218 | $ | 201 | $ | 403 | $ | 352 | $ | 331 | |||||||||
Portion of lease rentals representative of the interest factor | 28 | 29 | 57 | 58 | 60 | 52 | 47 | ||||||||||||||||
Total fixed charges | $ | 136 | $ | 136 | $ | 275 | $ | 259 | $ | 463 | $ | 404 | $ | 378 | |||||||||
Ratio of earnings to fixed charges | 20.59 | 9.51 | 13.57 | 35.36 | 15.19 | 14.96 | 15.26 |
(a) | Represents adjustments to arrive at distributed income from equity investees. |