EX-12 2 ex12-20093q.htm EXHIBIT 12 ex12-20093q.htm
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
 
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)
 
 
   
Nine Months Ended
September 30
  
  Year Ended
December 31
  
     
2009
    
2008
    
2008
    
2007
    
2006
    
2005
    
2004
  
Income from continuing operations
  
$
2,019
  
$
6,495
  
$
6,955
  
$
5,153
  
$
4,313
  
$
4,912
  
$
2,273
  
Add:
                                            
Adjusted income from equity investments(a)
    
(88
)
  
(103
)
  
(84
)
  
(28
)
  
(52
)
  
(53
)
  
(5
)
Provision for taxes on income (other than foreign oil and gas taxes)
    
397
    
1,982
    
2,213
    
1,577
    
1,545
    
632
    
891
  
Interest and debt expense
    
102
    
97
    
133
    
344
    
297
    
305
    
270
  
Portion of lease rentals representative of the interest factor
    
36
    
31
    
58
    
60
    
52
    
47
    
40
  
     
447
    
2,007
    
2,320
    
1,953
    
1,842
    
931
    
1,196
  
Earnings before fixed charges
  
$
2,466
  
$
8,502
  
$
9,275
  
$
7,106
  
$
6,155
  
$
5,843
  
$
3,469
  
Fixed charges
                                            
Interest and debt expense including capitalized interest
  
$
167
  
$
140
  
$
201
  
$
403
  
$
352
  
$
331
  
$
285
  
Portion of lease rentals representative of the interest factor
    
36
    
31
    
58
    
60
    
52
    
47
    
40
  
Total fixed charges
  
$
203
  
$
171
  
$
259
  
$
463
  
$
404
  
$
378
  
$
325
  
Ratio of earnings to fixed charges
    
12.15
    
49.72
    
35.81
    
15.35
    
15.24
    
15.46
    
10.67
  

(a)
 Represents adjustments to arrive at distributed income from equity investees.