Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
| Millions of Dollars | ||||||||||||||||||||
| Years Ended December 31 | ||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
| Earnings Available for Fixed Charges |
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| Income (loss) from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges |
$ | (5,586 | ) | (7,296 | ) | 9,321 | 14,387 | 15,356 | ||||||||||||
| Distributions received greater than equity losses |
299 | 101 | 77 | * | (822 | ) | (596 | ) | ||||||||||||
| Fixed charges, excluding capitalized interest** |
1,546 | 1,192 | 901 | 787 | 1,127 | |||||||||||||||
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|
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| $ | (3,741 | ) | (6,003 | ) | 10,299 | 14,352 | 15,887 | |||||||||||||
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| Fixed Charges |
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| Interest and expense on indebtedness, excluding capitalized interest |
$ | 1,245 | 920 | 648 | 612 | 749 | ||||||||||||||
| Capitalized interest |
157 | 294 | 488 | 667 | 615 | |||||||||||||||
| Interest portion of rental expense |
129 | 70 | 114 | 75 | 67 | |||||||||||||||
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|
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| $ | 1,531 | 1,284 | 1,250 | 1,354 | 1,431 | |||||||||||||||
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| Ratio of Earnings to Fixed Charges*** |
— | — | 8.2 | 10.6 | 11.1 | |||||||||||||||
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| * | Includes a significant distribution from a Canadian joint venture. |
| ** | Includes amortization of capitalized interest totaling approximately $172 million in 2016, $202 million in 2015, $139 million in 2014, $101 million in 2013, and $311 million in 2012. |
| *** | Earnings for the years ended December 31, 2016 and 2015, were inadequate to cover fixed charges by $5,272 million and $7,287 million, respectively. |