EX-12 11 a06-2522_1ex12.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

Exhibit 12

 

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES

TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Millions of Dollars

 

 

 

Years Ended December 31

 

 

 

2005

 

2004

 

2003

 

2002

 

2001

 

 

 

(Unaudited)

 

Earnings Available for Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

23,547

 

14,369

 

8,337

 

2,141

 

3,241

 

Distributions less than equity in earnings of fifty-percent-or-less-owned companies

 

(1,785

)

(780

)

(52

)

3

 

58

 

Fixed charges, excluding capitalized interest*

 

747

 

758

 

1,019

 

850

 

501

 

 

 

$

22,509

 

14,347

 

9,304

 

2,994

 

3,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

Interest and expense on indebtedness, excluding capitalized interest

 

$

497

 

546

 

844

 

566

 

338

 

Capitalized interest

 

395

 

430

 

327

 

232

 

231

 

Preferred dividend requirements of subsidiary and capital trusts

 

—

 

—

 

—

 

38

 

53

 

Interest portion of rental expense

 

188

 

174

 

149

 

181

 

90

 

Interest expense relating to guaranteed debt of fifty-percent-or-less-owned companies

 

—

 

9

 

1

 

16

 

—

 

Interest expense relating to guaranteed debt of greater than fifty-percent-owned companies

 

—

 

—

 

—

 

3

 

—

 

 

 

$

1,080

 

1,159

 

1,321

 

1,036

 

712

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

20.8

 

12.4

 

7.0

 

2.9

 

5.3

 

 

*Includes amortization of capitalized interest totaling approximately $62 million in 2005, $29 million in 2004, $25 million in 2003, $46 million in 2002, and $20 million in 2001.

 

Earnings available for fixed charges include, if any, the company’s equity in losses of companies owned less than fifty percent and having debt for which the company is contingently liable. Fixed charges include the company’s 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 the company is contingently liable. Fixed charges include 100 percent of interest and capitalized interest, if any, relating to the contingent debt.