EXHIBIT 12.1
EOG RESOURCES, INC.
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(In Thousands)
(Unaudited)
| Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
EARNINGS AVAILABLE FOR FIXED CHARGES: | ||||||||||||||||||||||||
Net Income | $ | 146,200 | $ | 2,436,919 | $ | 1,089,918 | $ | 1,299,885 | $ | 1,259,576 | $ | 624,855 | ||||||||||||
Less: Capitalized Interest Expense | (38,283 | ) | (42,628 | ) | (29,324 | ) | (19,900 | ) | (14,596 | ) | (9,631 | ) | ||||||||||||
Add: Fixed Charges | 131,269 | 117,568 | 96,228 | 80,050 | 90,933 | 83,264 | ||||||||||||||||||
Income Tax Provision | 99,576 | 1,309,620 | 540,950 | 612,756 | 705,561 | 301,157 | ||||||||||||||||||
TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES | $ | 338,762 | $ | 3,821,479 | $ | 1,697,772 | $ | 1,972,791 | $ | 2,041,474 | $ | 999,645 | ||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense | $ | 71,355 | $ | 49,889 | $ | 45,628 | $ | 43,158 | $ | 62,506 | $ | 63,128 | ||||||||||||
Capitalized Interest | 38,283 | 42,628 | 29,324 | 19,900 | 14,596 | 9,631 | ||||||||||||||||||
Capitalized Expense Related to Indebtedness | 2,239 | 1,759 | 1,150 | 1,655 | 2,381 | 1,994 | ||||||||||||||||||
Rental Expense Representative of | ||||||||||||||||||||||||
Interest Factor | 19,392 | 23,282 | 20,126 | 15,337 | 11,450 | 8,511 | ||||||||||||||||||
TOTAL FIXED CHARGES | 131,269 | 117,568 | 96,228 | 80,050 | 90,933 | 83,264 | ||||||||||||||||||
Preferred Stock Dividends on a Pre-tax Basis | — | 681 | 9,970 | 16,179 | 11,595 | 16,142 | ||||||||||||||||||
COMBINED TOTAL FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | $ | 131,269 | $ | 118,249 | $ | 106,198 | $ | 96,229 | $ | 102,528 | $ | 99,406 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 2.58 | 32.50 | (1) | 17.64 | 24.64 | 22.45 | 12.01 | |||||||||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | 2.58 | 32.32 | (1) | 15.99 | 20.50 | 19.91 | 10.06 | |||||||||||||||||
| (1) | These ratios for the year ended December 31, 2008 differ from the corresponding ratios set forth in Exhibit 12 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (the 2008 Form 10-K) due to an adjustment to the previously disclosed Interest Expense amount for the year ended December 31, 2008 in such Exhibit 12 to the 2008 Form 10-K. |
