EX-12.1 2 a05-18076_1ex12d1.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

EXHIBIT 12.1

 

NOBLE ENERGY, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands)

 

 

 

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

Year Ended December 31,

 

 

 

2005

 

2004

 

2004

 

2003

 

2002

 

2001

 

2000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before cumulative effect of change in accounting principle

 

$

644,037

 

$

373,422

 

$

516,041

 

$

141,639

 

$

27,896

 

$

150,130

 

$

207,890

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

67,390

 

49,811

 

62,747

 

62,075

 

64,566

 

54,434

 

50,434

 

Interest capitalized

 

(11,340

)

(9,655

)

(13,401

)

(14,134

)

(16,331

)

(15,953

)

(6,326

)

Distributions less equity in earnings of equity investees

 

(1,304

)

2,172

 

(11,275

)

5,499

 

8,164

 

(6,981

)

(13,544

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined

 

$

698,783

 

$

415,750

 

$

554,112

 

$

195,079

 

$

84,295

 

$

181,630

 

$

238,454

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net of capitalized interest

 

$

54,987

 

$

39,318

 

$

48,227

 

$

46,977

 

$

47,709

 

$

38,007

 

$

43,697

 

Interest capitalized

 

11,340

 

9,655

 

13,401

 

14,134

 

16,331

 

15,953

 

6,326

 

Interest portion of rental expense

 

1,063

 

838

 

1,119

 

964

 

526

 

474

 

411

 

Fixed charges as defined

 

$

67,390

 

$

49,811

 

$

62,747

 

$

62,075

 

$

64,566

 

$

54,434

 

$

50,434

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.37

 

8.35

 

8.83

 

3.14

 

1.31

 

3.34

 

4.73