EX-12 4 ex12-2009.htm EXHIBIT 12 ex12-2009.htm
EXHIBIT 12

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
 
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)



For the years ended December 31,
  
2009
  
2008
  
2007
  
2006
  
2005
  
                                 
Income from continuing operations
  
$
2,978
  
$
6,955
  
$
5,153
  
$
4,313
  
$
4,912
  
                                 
Subtract:
                                
Net income attributable to noncontrolling interest
    
(51
)
  
(116
)
  
(75
)
  
(111
)
  
(74
)
Adjusted income from equity investments (a)
    
(88
)
  
(84
)
  
(28
)
  
(52
)
  
(53
)
                                 
     
2,839
    
6,755
    
5,050
    
4,150
    
4,785
  
                                 
Add:
                                
Provision for taxes on income (other than
                                
foreign oil and gas taxes)
    
695
    
2,213
    
1,577
    
1,545
    
632
  
Interest and debt expense
    
140
    
133
    
344
    
297
    
305
  
Portion of lease rentals representative of the interest factor
    
57
    
58
    
60
    
52
    
47
  
                                 
     
892
    
2,404
    
1,981
    
1,894
    
984
  
                                 
Earnings before fixed charges
  
$
3,731
  
$
9,159
  
$
7,031
  
$
6,044
  
$
5,769
  
                                 
Fixed charges:
                                
Interest and debt expense including capitalized interest
  
$
218
  
$
201
  
$
403
  
$
352
  
$
331
  
Portion of lease rentals representative of the interest factor
    
57
    
58
    
60
    
52
    
47
  
                                 
Total fixed charges
  
$
275
  
$
259
  
$
463
  
$
404
  
$
378
  
                                 
Ratio of earnings to fixed charges
    
13.57
    
35.36
    
15.19
    
14.96
    
15.26
  
                                 

(a)
Represent adjustments to arrive at distributed income of equity investees.