EX-12 2 ex12-20101q.htm EXHIBIT 12 ex12-20101q.htm
 
EXHIBIT 12    
     
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
  
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES  
(Amounts in millions, except ratios)  
 

   
Three Months Ended
March 31
                
Year Ended
December 31
  
     
2010
    
2009
    
2009
    
2008
    
2007
    
2006
    
2005
  
Income from continuing operations
  
$
1,095
  
$
380
  
$
2,978
  
$
6,955
  
$
5,153
  
$
4,313
  
$
4,912
  
                                             
Subtract:
                                            
Net income attributable to noncontrolling interest
    
(24
)
  
(9
)
  
(51
)
  
(116
)
  
(75
)
  
(111
)
  
(74
)
Adjusted income from equity investments (a)
    
1
    
(24
)
  
(88
)
  
(84
)
  
(28
)
  
(52
)
  
(53
)
      1,072    
347
    
2,839
    
6,755
    
5,050
    
4,150
    
4,785
  
                                             
Add:
                                            
Provision for taxes on income (other than foreign oil and gas taxes)
     335    
44
    
695
    
2,213
    
1,577
    
1,545
    
632
  
Interest and debt expense
     38    
27
    
140
    
133
    
344
    
297
    
305
  
Portion of lease rentals representative of the interest factor
     15    
15
    
57
    
58
    
60
    
52
    
47
  
      388    
86
    
892
    
2,404
    
1,981
    
1,894
    
984
  
Earnings before fixed charges
  
$
 1,460  
$
433
  
$
3,731
  
$
9,159
  
$
7,031
  
$
6,044
  
$
5,769
  
                                             
Fixed charges:
                                            
Interest and debt expense including capitalized interest
  
$
 56  
$
53
  
$
218
  
$
201
  
$
403
  
$
352
  
$
331
  
Portion of lease rentals representative of the interest factor
     15    
15
    
57
    
58
    
60
    
52
    
47
  
Total fixed charges
  
$
 71  
$
68
  
$
275
  
$
259
  
$
463
  
$
404
  
$
378
  
Ratio of earnings to fixed charges
     20.56    
6.37
    
13.57
    
35.36
    
15.19
    
14.96
    
15.26
  
(a)
Represents adjustments to arrive at distributed income from equity investees.