EX-12.1 2 hal_03312016-ex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


    
Exhibit 12.1

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


 
Three Months Ended March 31, 2016
Year Ended December 31
 
2015
2014
2013
2012
2011
Earnings available for fixed charges:
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
(3,291
)
$
(936
)
$
4,712

$
2,764

$
3,822

$
4,449

Add:
 
 
 
 
 
 
Distributed earnings from equity in unconsolidated affiliates
11

11

16

19

4

13

Fixed charges
218

634

554

511

445

384

Subtotal
(3,062
)
(291
)
5,282

3,294

4,271

4,846

Less:
 
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
5

28

15

9

14

20

Total earnings (loss) available for fixed charges
$
(3,067
)
$
(319
)
$
5,267

$
3,285

$
4,257

$
4,826

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
175

$
463

$
396

$
339

$
305

$
268

Rental expense representative of interest
43

171

158

172

140

116

Total fixed charges
$
218

$
634

$
554

$
511

$
445

$
384

 
 
 
 
 
 
 
Ratio of earnings to fixed charges
(a)

(a)

9.5

6.4

9.6

12.6

(a) Total earnings (loss) available for fixed charges for the three months ended March 31, 2016 and year ended December 31, 2015 were inadequate to cover fixed charges by $3.3 billion and $953 million, respectively. Reported losses during the periods were primarily due to impairments and other charges of $2.8 billion for the three months ended March 31, 2016 and $2.2 billion for the year ended December 31, 2015.