EX-12 4 anadarko_exhibit12-93001.htm ANADARKO SEPT 30, 2001 EX 12 COMP OF RATIOS Anadarko September 30, 2001 Form 10Q Exhibit 12, Comp of Ratios

EXHIBIT 12

 

ANADARKO PETROLEUM CORPORATION
CONSOLIDATED STATEMENT OF COMPUTATION OF RATIOS OF
EARNINGS TO FIXED CHARGES AND EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Nine Months Ended September 30, 2001 and Five Years Ended December 31, 2000

Nine Months

Ended

September 30

Year Ended December 31

millions except ratio amounts

2001

2000

1999

1998

1997

1996

Gross Income

$

1,221

  

$

1,519

  

$

179

  

$

(7

)

$

205

  

$

197

  

Rentals

  

10

    

16

    

11

    

12

    

8

    

4

  

Earnings

  

1,231

    

1,535

    

190

    

5

    

213

    

201

  
                                     

Gross Interest Expense

  

221

    

193

    

96

    

82

    

62

    

56

  

Rentals

  

10

    

16

    

11

    

13

    

8

    

4

  

Fixed Charges

$

231

  

$

209

  

$

107

  

$

95

  

$

70

  

$

60

  
                                     

Preferred Stock

                                   

 Dividends

  

9

    

17

    

17

    

11

    

--

    

--

  
                                     

Combined Fixed Charges

                                   

 and Preferred Stock

                                   

 Dividends

$

240

  

$

226

 

$

124

  

$

106

  

$

70

  

$

60

  
                                     

Ratio of Earnings to

                                   

 Fixed Charges

  

5.33

    

7.35

    

1.77

    

0.05

    

3.04

    

3.34

  

                                   

Ratio of Earnings to

                                    

 Combined Fixed Charges

                                   

 and Preferred Stock

                                   

 Dividends

  

5.13

    

6.80

   

1.53

    

0.05

    

3.04

    

3.34

  

 

 

As a result of the Company's net loss in 1998, Anadarko's earnings did not cover fixed charges by $90 million and did not cover combined fixed charges and preferred stock dividends by $101 million.

These ratios were computed by dividing earnings by either fixed charges or combined fixed charges and preferred stock dividends. For this purpose, earnings include income before income taxes and fixed charges. Fixed charges include interest and amortization of debt expenses and the estimated interest component of rentals. Preferred stock dividends are adjusted to reflect the amount of pretax earnings required for payment.