EX-12 2 h73992exv12.htm EX-12 exv12
Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
                 
    Millions of Dollars  
    Six Months Ended  
    June 30  
    2010     2009 **
 
                
Earnings Available for Fixed Charges
                
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges
   $ 10,154       3,907  
Distributions less than equity in earnings of affiliates
     (1,189 )     (606 )
Fixed charges, excluding capitalized interest*
     859       781  
 
 
   $ 9,824       4,082  
 
 
                
Fixed Charges
                
Interest and debt expense, excluding capitalized interest
   $ 650       578  
Capitalized interest
     239       249  
Interest portion of rental expense
     102       103  
 
 
   $ 991       930  
 
Ratio of Earnings to Fixed Charges
     9.9       4.4  
 
  *Includes amortization of capitalized interest totaling approximately $107 million in 2010 and $99 million in 2009.
 
**Recast to reflect a change in accounting principle. See Note 2—Changes in Accounting Principles in the company’s Quarterly Report on Form 10-Q for the period ended June 30, 2010, for more information.