EX-12.1 11 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES Computation of Ratio of Earnings to Combined Fixed Charges

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)

 

     Nine Months
Ended September 30
    Year Ended December 31
     2004
    2003
    2003
    2002
    2001
    2000
    1999

Portion of rentals representing interest

    $ 42    $ 44    $ 63    $ 66    $ 54    $ 50    $ 47

Capitalized interest, including discontinued operations

      34      28      41      16      27      19      26

Other interest and fixed charges, including discontinued operations

      206      228      270      316      349      375      365

Pretax earnings which would be required to cover preferred stock dividend requirements of parent

      —        —        —        —        12      12      14
    
  
  
  
  
  
  

Combined fixed charges and preferred stock dividends (A)

    $ 282    $ 300    $ 374    $ 398    $ 442    $ 456    $ 452
    
  
  
  
  
  
  

Earnings-pretax income with applicable adjustments (B).

    $ 1,981    $ 1,995    $ 2,422    $ 1,446    $ 3,365    $ 1,884    $ 1,830
    
  
  
  
  
  
  

Ratio of (B) to (A)

      7.02      6.65      6.48      3.63      7.61      4.12      4.04