EXHIBIT 12 | ||||||||||||||||||||||||
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||
(Amounts in millions, except ratios) | ||||||||||||||||||||||||
Nine Months Ended | Year Ended | |||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||
Income from continuing operations | $ | 3,394 | $ | 2,019 | $ | 2,978 | $ | 6,955 | $ | 5,153 | $ | 4,313 | $ | 4,912 | ||||||||||
Subtract: | ||||||||||||||||||||||||
Net income attributable to noncontrolling interest | (58 | ) | (35 | ) | (51 | ) | (116 | ) | (75 | ) | (111 | ) | (74 | ) | ||||||||||
Adjusted income from equity investments | (64 | ) | (88 | ) | (88 | ) | (84 | ) | (28 | ) | (52 | ) | (53 | ) | ||||||||||
3,272 | 1,896 | 2,839 | 6,755 | 5,050 | 4,150 | 4,875 | ||||||||||||||||||
Add: | ||||||||||||||||||||||||
Provision for taxes on income (other than foreign oil and gas taxes) | 978 | 384 | 695 | 2,213 | 1,577 | 1,545 | 632 | |||||||||||||||||
Interest and debt expense | 96 | 99 | 140 | 133 | 344 | 297 | 305 | |||||||||||||||||
Portion of lease rentals representative of the interest factor | 43 | 43 | 57 | 58 | 60 | 52 | 47 | |||||||||||||||||
1,117 | 526 | 892 | 2,404 | 1,981 | 1,894 | 984 | ||||||||||||||||||
Earnings before fixed charges | $ | 4,389 | $ | 2,422 | $ | 3,731 | $ | 9,159 | $ | 7,031 | $ | 6,044 | $ | 5,769 | ||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest and debt expense including capitalized interest | $ | 157 | $ | 164 | $ | 218 | $ | 201 | $ | 403 | $ | 352 | $ | 331 | ||||||||||
Portion of lease rentals representative of the interest factor | 43 | 43 | 57 | 58 | 60 | 52 | 47 | |||||||||||||||||
Total fixed charges | $ | 200 | $ | 207 | $ | 275 | $ | 259 | $ | 463 | $ | 404 | $ | 378 | ||||||||||
Ratio of earnings to fixed charges | 21.95 | 11.70 | 13.57 | 35.36 | 15.19 | 14.96 | 15.26 | |||||||||||||||||
(a) | Represents adjustments to arrive at distributed income from equity investees. |
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10-Q Filing
Occidental Petroleum Corporatio (OXY) 10-Q2010 Q3 Quarterly report
Filed: 4 Nov 10, 12:00am