EXHIBIT 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
<Table>
<Caption>
Millions of Dollars
---------------------------------------------
Years Ended December 31
---------------------------------------------
2001 2000 1999 1998 1997
------ ------ ------ ------ ------
(Unaudited)
EARNINGS AVAILABLE FOR
FIXED CHARGES
Income from continuing
operations before
income taxes $3,285 3,747 1,175 410 1,886
Distributions less than
equity in earnings of
fifty-percent-or-less-
owned companies 58 (30) (7) (19) (54)
Fixed charges, excluding
capitalized interest* 501 481 396 314 333
------ ------ ------ ------ ------
$3,844 4,198 1,564 705 2,165
====== ====== ====== ====== ======
FIXED CHARGES
Interest and expense on
indebtedness, excluding
capitalized interest $ 338 369 279 200 198
Capitalized interest 231 174 49 48 46
Preferred dividend
requirements of subsidiary
and capital trusts 53 53 53 53 113
Interest portion of rental
expense 90 42 47 45 39
------ ------ ------ ------ ------
$ 712 638 428 346 396
====== ====== ====== ====== ======
RATIO OF EARNINGS TO FIXED
CHARGES 5.4 6.6 3.7 2.0 5.5
------ ------ ------ ------ ------
</Table>
* Includes amortization of capitalized interest totaling approximately $20
million in 2001, $17 million each in 2000 and 1999, $16 million in 1998, and
$14 million in 1997.
Earnings available for fixed charges include, if any, the company's equity in
losses of companies owned less than fifty percent and having debt for which the
company is contingently liable. Fixed charges include the company's
proportionate share, if any, of interest relating to the contingent debt.
In 1990, the company guaranteed a $400 million bank loan for the Long-Term Stock
Savings Plan (LTSSP), an employee benefit plan. Consolidated interest expense
includes interest attributable to the LTSSP borrowings of $4 million in 2000.
Interest attributable to the LTSSP borrowings was minimal in 2001, 1999, 1998
and 1997.