EX-12.1 4 a2152323zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


Marathon Oil Corporation
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
TOTAL ENTERPRISE BASIS—Unaudited
(Dollars in Millions)

 
   Year Ended December 31
 
   2004
   2003
   2002
   2001
   2000
Portion of rentals representing interest   $ 57   $ 63   $ 66   $ 54   $ 50
Capitalized interest, including discontinued operations     48     41     16     27     19
Other interest and fixed charges, including discontinued operations     279     270     316     349     375
Pretax earnings which would be required to cover preferred stock dividend requirements of parent     —     —     —     12     12
   
 
 
 
 
Combined fixed charges and preferred stock dividends(A)   $ 384   $ 374   $ 398   $ 442   $ 456
Earnings-pretax income with applicable adjustments(B).   $ 2,843   $ 2,422   $ 1,446   $ 3,365   $ 1,884
Ratio of (B) to (A)     7.40     6.48     3.63     7.61     4.12



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Marathon Oil Corporation Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends TOTAL ENTERPRISE BASIS—Unaudited (Dollars in Millions)