EX-12 2 h76057exv12.htm EX-12 exv12
Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
                 
    Millions of Dollars  
    Nine Months Ended  
    September 30  
    2010     2009 **
       
 
Earnings Available for Fixed Charges
                
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges
   $         15,414       6,804  
Distributions less than equity in earnings of affiliates
     (1,642 )     (1,818 )
Fixed charges, excluding capitalized interest*
     1,223       1,220  
   
 
   $ 14,995       6,206  
   
 
                
Fixed Charges
                
Interest and debt expense, excluding capitalized interest
   $ 914       914  
Capitalized interest
     359       378  
Interest portion of rental expense
     154       155  
   
 
   $ 1,427       1,447  
   
Ratio of Earnings to Fixed Charges
     10.5       4.3  
   
* Includes amortization of capitalized interest totaling approximately $155 million in 2010 and $150 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 September 30, 2010, for more information.