Occidental Petroleum Corporatio (OXY) 10-Q2018 Q1 Quarterly report

Filed: 8 May 18, 4:25pm

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New words: ability, accelerated, advance, aggregate, aggregated, arbitration, ASC, Bank, book, borrow, case, chlorine, claim, claiming, clearinghouse, concession, consideration, contesting, context, deemed, divested, divestiture, earliest, earned, Employed, enacted, entitled, establishing, event, expedient, experience, expire, exported, exporting, expropriation, fluctuate, freezing, Geismar, governmental, Incidental, incremental, indefinitely, Indenture, individually, invoiced, Louisiana, mandatory, matured, Mellon, month, monthly, multiple, November, opening, outcome, passage, payable, prerequisite, principal, provisional, ratably, recognizable, reconciliation, refinance, Reform, renewal, repatriation, repayment, replaced, replenishment, Republic, revolving, stranded, streamline, technical, technology, title, transfer, unproved, unsatisfied, upfront, variable, vigorously, warranted, York

Removed: Al, alter, amortization, assemble, Bahrain, Basin, closely, Colombia, continue, correlate, cracker, cumulative, depletion, detail, economically, ethylene, excluding, exited, forecasted, half, Hosn, identify, impacting, Iraq, joint, nonrecurring, parent, pay, Piceance, previously, promised, pursuing, quantity, raw, recover, reduce, reducing, reflect, relinquishment, repay, reviewed, reviewing, scope, unamortized, venture

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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 March 31,					Year Ended December 31
	2018		2017			2017			2016			2015			2014			2013
Income from continuing operations	$	708	$	117		$	1,311		$	(1,002	)	$	(8,146	)	$	(130	)	$	4,932

Add/(Subtract):
Net income attributable to noncontrolling interest	—		—			—			—			—			(14		)	—
Adjusted income from equity investments ^(a)	6		9			(60		)	43			21			64			52
	714		126			1,251			(959		)	(8,125		)	(80		)	4,984

Add:
Provision for taxes on income (other than foreign oil and gas taxes)	113		(90		)	(776		)	(1,281		)	(2,070		)	(280		)	1,353
Interest and debt expense	97		81			345			292			147			77			132
Portion of lease rentals representative of the interest factor	35		31			93			79			63			52			60
	245		22			(338		)	(910		)	(1,860		)	(151		)	1,545
Earnings before fixed charges	$	959	$	148		$	913		$	(1,869	)	$	(9,985	)	$	(231	)	$	6,529

Fixed charges:
Interest and debt expense including capitalized interest	$	106	$	98		$	397		$	356		$	285		$	257		$	269
Portion of lease rentals representative of the interest factor	35		31			93			79			63			52			60
Total fixed charges	$	141	$	129		$	490		$	435		$	348		$	309		$	329

Ratio of earnings to fixed charges	6.78		1.15			1.86			(4.30		)	(28.69		)	(0.75		)	19.83
Insufficient coverage	—		—			—			(2,304		)	(10,333		)	(540		)	—



Note: Results of California Resources Corporation have been reflected as discontinued operations for all periods presented.
(a)	Represents adjustments to arrive at distributed income from equity investees.