EXHIBIT 12.1

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

	Six
	months
	ended
	June 30,		Year Ended December 31
	2008		2007		2006		2005		2004		2003
Earnings available for fixed charges:
Income from continuing operations before income taxes and minority interest	$	1,745	$	3,460	$	3,199	$	1,997	$	990	$	639
Add:
Distributed earnings from equity in unconsolidated affiliates		12		43		28		34		30		10
Fixed charges		105		208		224		248		266		173
Subtotal		1,862		3,711		3,451		2,279		1,286		822
Less:
Equity in earnings (losses) of unconsolidated affiliates		27		57		65		42		47		(3	)
Total earnings available for fixed charges	$	1,835	$	3,654	$	3,386	$	2,237	$	1,239	$	825
Fixed charges:
Interest expense	$	77	$	154	$	165	$	196	$	220	$	131
Rental expense representative of interest		28		54		59		52		46		42
Total fixed charges	$	105	$	208	$	224	$	248	$	266	$	173
Ratio of earnings to fixed charges		17.5		17.6		15.1		9.0		4.7		4.8

All periods presented reflect the reclassification of KBR, Inc. to discontinued operations.