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EXHIBIT 12
ANADARKO PETROLEUM CORPORATION
CONSOLIDATED STATEMENT OF COMPUTATION OF RATIOS
OF EARNINGS TO FIXED CHARGES AND EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
FIVE YEARS ENDED DECEMBER 31, 1996
YEARS ENDED DECEMBER 31
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1996 1995 1994 1993 1992
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THOUSANDS
Gross Income $196,763 $65,624 $90,794 $106,824 $68,311
Rentals 4,234 2,457 2,814 3,069 2,737
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Earnings 200,997 68,081 93,608 109,893 71,048
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Gross Interest Expense 55,986 52,557 41,635 38,000 36,620
Rentals 4,234 2,457 2,814 3,069 2,737
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Fixed Charges $ 60,220 $55,014 $44,449 $ 41,069 $39,357
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Ratio of Earnings to Fixed Charges 3.34 1.24 2.11 2.68 1.81
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The ratios of earnings to fixed charges were computed by dividing earnings
by fixed charges. For this purpose, earnings include income before income taxes
and fixed charges. Fixed charges include interest and amortization of debt
expenses, and the estimated interest component of rentals. Certain amounts for
prior years have been restated to conform to the current presentation.
During the five years ended December 31, 1996, there were no shares of
preferred stock outstanding. Accordingly, the ratio of earnings to combined
fixed charges and preferred stock dividends for each of the five years is the
same as the ratio of earnings to fixed charges.