EX-12 7 exhibit12.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document
EXHIBIT 12


HALLIBURTON COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Millions of dollars, except ratios)


   
Years Ended December 31
  
   
2005
  
2004
  
2003
  
2002
  
2001
  
Earnings available for fixed charges:
                                
Income (loss) from continuing
                                
operations before income taxes,
                                
minority interest, and cumulative
                                
effects of accounting changes, net
  
$
2,492
  
$
651
  
$
612
  
$
(228
)
$
954
  
Add:
                                
Distributed earnings from equity
                                
in unconsolidated affiliates
    
98
    
61
    
113
    
33
    
38
  
Fixed charges
    
281
    
295
    
203
    
168
    
209
  
Subtotal
    
2,871
    
1,007
    
928
    
(27
)
  
1,201
  
Less:
                                
Undistributed equity in
                                
earnings and losses of
                                
unconsolidated affiliates
    
(13
)
  
2
    
25
    
74
    
107
  
Total earnings available for fixed charges
  
$
2,884
  
$
1,005
  
$
903
  
$
(101
)
$
1,094
  
                                 
Fixed charges:
                                
Interest expense
  
$
207
  
$
229
  
$
139
  
$
113
  
$
147
  
Rental expense representative
                                
of interest
    
74
    
66
    
64
    
55
    
62
  
Total fixed charges
  
$
281
  
$
295
  
$
203
  
$
168
  
$
209
  
                                 
Ratio of earnings to fixed charges
    
10.3
    
3.4
    
4.4
    
(a
)
  
5.2
  

(a) For the year ended December 31, 2002, earnings were inadequate to cover fixed charges by $269 million.