EX-12 5 ex12-1_30sep02.txt EXHIBIT 12.1 Exhibit 12.1 Marathon Oil Corporation Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends TOTAL ENTERPRISE BASIS--Unaudited Including Discontinued Operations (Dollars in Millions)
Nine Months Ended September 30 Year Ended December 31 -------------- -------------------------------------- 2002 2001 2001 2000 1999 1998 1997 ------ ------ ------ ------ ------ ------ ------ Portion of rentals representing interest...... $ 47 $ 39 $ 54 $ 52 $ 49 $ 53 $ 35 Capitalized interest, including discontinued operations................ 11 20 27 19 26 46 31 Other interest and fixed charges, including discontinued operations... 235 213 349 375 365 318 352 Pretax earnings which would be required to cover preferred stock dividend requirements of parent................. - 9 12 12 14 15 20 ------ ------ ------ ------ ------ ------ ------ Combined fixed charges and preferred stock dividends (A)............. $ 293 $ 281 $ 442 $ 458 $ 454 $ 432 $ 438 ====== ====== ====== ====== ====== ====== ====== Earnings-pretax income with applicable adjustments (B). $1,061 $2,868 $3,213 $1,809 $1,866 $1,087 $1,067 ====== ====== ====== ====== ====== ====== ====== Ratio of (B) to (A)......... 3.62 10.19 7.26 3.95 4.11 2.51 2.43 ====== ====== ====== ====== ====== ====== ======