EXHIBIT 12.1

HALLIBURTON COMPANY

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

(Millions of dollars, except ratios)

	Year Ended December 31
	2011		2010		2009		2008		2007
Earnings available for fixed charges:
Income from continuing operations before
income taxes	$	4,449	$	2,655	$	1,682	$	3,849	$	3,447
Add:
Distributed earnings from equity in
unconsolidated affiliates		13		13		17		30		43
Fixed charges		384		402		361		232		222
Subtotal		4,846		3,070		2,060		4,111		3,712
Less:
Equity in earnings of
unconsolidated affiliates		20		20		16		50		57
Total earnings available for fixed charges	$	4,826	$	3,050	$	2,044	$	4,061	$	3,655
Fixed charges:
Interest expense	$	268	$	308	$	297	$	167	$	168
Rental expense representative of interest		116		94		64		65		54
Total fixed charges	$	384	$	402	$	361	$	232	$	222
Ratio of earnings to fixed charges		12.6		7.6		5.7		17.5		16.5