EX-12 2 a06-21937_1ex12.htm EX-12

Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges

 

 

Millions of Dollars

 

 

 

Nine Months Ended
September 30

 

 

 

2006

 

2005

 

 

 

(Unaudited)

 

Earnings Available for Fixed Charges

 

 

 

 

 

Income from continuing operations before income taxes

 

$

22,416

 

16,926

 

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

 

(1,022

)

(1,699

)

Fixed charges, excluding capitalized interest*

 

995

 

561

 

 

 

$

22,389

 

15,788

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

Interest and debt expense, excluding capitalized interest

 

$

783

 

387

 

Capitalized interest

 

328

 

281

 

Interest portion of rental expense

 

141

 

130

 

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

 

2

 

0

 

 

 

$

1,254

 

798

 

Ratio of Earnings to Fixed Charges

 

17.9

 

19.8

 

*Includes amortization of capitalized interest totaling approximately $69 million in 2006 and $44 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.