EX-12 2 h50897exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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  
    2007     2006  
    (Unaudited)
Earnings Available for Fixed Charges
               
Income from continuing operations before income taxes and minority interest
  $ 15,977       22,416  
Distributions less than equity in earnings of fifty-percent-or-less-owned companies
    (1,484 )     (1,022 )
Fixed charges, excluding capitalized interest*
    1,196       995  
 
 
  $ 15,689       22,389  
 
 
               
Fixed Charges
               
Interest and debt expense, excluding capitalized interest
  $ 1,017       783  
Capitalized interest
    415       328  
Interest portion of rental expense
    105       141  
Interest expense relating to guaranteed debt of fifty-percent-or-less-owned companies
    11       2  
 
 
  $ 1,548       1,254  
 
Ratio of Earnings to Fixed Charges
    10.1       17.9  
 
*Includes amortization of capitalized interest totaling approximately $64 million in 2007 and $69 million in 2006.
Earnings available for fixed charges include, if any, our equity in losses of companies owned less than fifty percent and having debt for which the company is contingently liable. Fixed charges include our proportionate share, if any, of interest relating to the contingent debt.
Earnings available for fixed charges include, if any, 100 percent of the losses of companies owned greater than fifty percent that have debt for which we are contingently liable. Fixed charges include 100 percent of interest and capitalized interest, if any, relating to the contingent debt.