EX-12 2 a06-9807_1ex12.htm EX-12

Exhibit 12

 

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES

TOTAL ENTERPRISE

 

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Millions of Dollars

 

 

 

Three Months Ended
March 31

 

 

 

2006

 

2005

 

 

 

(Unaudited)

 

Earnings Available for Fixed Charges

 

 

 

 

 

Income from continuing operations before income taxes

 

$

5,797

 

4,940

 

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

 

(101

)

(808

)

Fixed charges, excluding capitalized interest*

 

193

 

200

 

 

 

$

5,889

 

4,332

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

Interest and debt expense, excluding capitalized interest

 

$

115

 

138

 

Capitalized interest

 

111

 

88

 

Interest portion of rental expense

 

47

 

44

 

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

 

11

 

5

 

 

 

$

284

 

275

 

Ratio of Earnings to Fixed Charges

 

20.7

 

15.8

 

*Includes amortization of capitalized interest totaling approximately $20 million in 2006  and  $13 million in 2005.

 

 

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.