EX-12 7 d542620dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

 

    Successor     Predecessor  
    Three Months
Ended
    For the Year
Ended
    For the Year
Ended
   

May 1

through

   

January 1

through

    For the Year
Ended
    For the Year
Ended
 
    March 31,     December 31,     December 31,     December 31,     April 30,     December 31,     December 31,  

Millions of dollars, ratio data

  2013     2012     2011     2010     2010     2009     2008  

Income (loss) from continuing operations before income taxes

  $ 1,263      $ 4,185      $ 3,531      $ 1,731      $ 6,947      $ (4,096   $ (7,986

Deduct income (loss) from equity investments

    59        143        216        86        84        (181     38  

Add distributions of earnings from equity investments

    9        147        206        34        18        26       98  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings adjusted for equity investments

    1,213        4,189        3,521        1,679        6,881        (3,889     (7,926

Fixed charges:

               

Interest expense, gross

    71        655        1,044        545        713        1,795       2,476  

Portion of rentals representative of interest

    23        93        95        56        35        104       183  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges before capitalized interest

    94        748        1,139        601        748        1,899       2,659  

Capitalized interest

    3        9        8        2        4        35       13  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges including capitalized interest

    97        757        1,147        603        752        1,934       2,672  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings before fixed charges

  $ 1,310      $ 4,946      $ 4,668      $ 2,282      $ 7,633      $ (1,955   $ (5,254
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges(a)

    13.51     6.53     4.07     3.78     10.15     —          —     
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

 

(a) For the years 2009 and 2008, earnings were insufficient to cover fixed charges by $3,889 million and $7,926 million, respectively.