| EXHIBIT 12 | |
Three Months Ended March 31 | Year Ended December 31 | |||||||||||||||||||||||||||
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
Income from continuing operations (a) | $ | 1,389 | $ | 1,359 | $ | 5,922 | $ | 4,635 | $ | 6,640 | $ | 4,641 | $ | 3,202 | ||||||||||||||
| Add/(Subtract): | ||||||||||||||||||||||||||||
| Net income attributable to noncontrolling interest | (2 | ) | — | — | — | — | (72 | ) | (51 | ) | ||||||||||||||||||
Adjusted income from equity investments (b) | 3 | (18 | ) | 52 | 163 | (33 | ) | (60 | ) | (88 | ) | |||||||||||||||||
| 1,390 | 1,341 | 5,974 | 4,798 | 6,607 | 4,509 | 3,063 | ||||||||||||||||||||||
| Add: | ||||||||||||||||||||||||||||
| Provision for taxes on income (other than foreign oil and gas taxes) | 483 | 412 | 1,894 | 708 | 1,795 | 1,099 | 695 | |||||||||||||||||||||
| Interest and debt expense | 20 | 34 | 118 | 130 | 135 | (c) | 116 | 140 | ||||||||||||||||||||
| Portion of lease rentals representative of the interest factor | 11 | 15 | 68 | 59 | 60 | 57 | 57 | |||||||||||||||||||||
| 514 | 461 | 2,080 | 897 | 1,990 | 1,272 | 892 | ||||||||||||||||||||||
| Earnings before fixed charges | $ | 1,904 | $ | 1,802 | $ | 8,054 | $ | 5,695 | $ | 8,597 | $ | 5,781 | $ | 3,955 | ||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest and debt expense including capitalized interest | $ | 62 | $ | 68 | $ | 269 | $ | 254 | $ | 221 | (c) | $ | 203 | $ | 218 | |||||||||||||
| Portion of lease rentals representative of the interest factor | 11 | 15 | 68 | 59 | 60 | 57 | 57 | |||||||||||||||||||||
| Total fixed charges | $ | 73 | $ | 83 | $ | 337 | $ | 313 | $ | 281 | $ | 260 | $ | 275 | ||||||||||||||
| Ratio of earnings to fixed charges | 26.08 | 21.71 | 23.90 | 18.19 | 30.59 | 22.23 | 14.38 | |||||||||||||||||||||
Note: Argentine operations have been reflected as discontinued operations for all periods. | ||
| (a) | The year ended December 31, 2013 amount includes a $665 million after-tax gain for the sale of a portion of an investment in the General Partner of Plains All-American Pipeline L.P., a $63 million after-tax gain for the sale of an investment in Carbocloro, a Brazilian chemical facility and $395 million of after-tax charges related to the impairment of non-producing domestic acreage. The year ended December 31, 2012 amount includes after-tax charges of $1.1 billion for the impairment of domestic gas assets and related items. | |
| (b) | Represents adjustments to arrive at distributed income from equity investees. | |
| (c) | Excludes a pre-tax charge of $163 million for the early redemption of debt. | |
