EX-12 2 d267896dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES

TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges

 

     Millions of Dollars  
     Years Ended December 31  
     2011        2010        2009        2008        2007   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings Available for Fixed Charges

           

Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges

    $     22,939        19,696        9,507        (2,902 )      22,871   

Distributions less than equity in earnings of affiliates

      (1,077 )      (1,073 )      (1,254 )      5,127        (1,400 ) 

Fixed charges, excluding capitalized interest*

      1,287        1,573        1,700        1,288        1,680   

 

  
   $ 23,149        20,196        9,953        3,513        23,151   

 

  

Fixed Charges

           

Interest and expense on indebtedness, excluding capitalized interest

    $ 972        1,187        1,289        935        1,253   

Capitalized interest

      489        471        487        568        565   

Interest portion of rental expense

      180        185        205        207        171   

Interest expense relating to guaranteed debt of affiliates

      -        -        -        3        19   

 

  
   $ 1,641        1,843        1,981        1,713        2,008   

 

  

Ratio of Earnings to Fixed Charges

      14.1        11.0        5.0        2.1        11.5   

 

  
* Includes amortization of capitalized interest totaling approximately $135 million in 2011, $201 million in 2010, $206 million in 2009, $143 million in 2008 and $237 million in 2007.