EX-12 4 ex12-20102q.htm EXHIBIT 12 ex12-20102q.htm

EXHIBIT 12
  
 
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
  
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
  
(Amounts in millions, except ratios)
  


   
Six Months Ended
              
Year Ended
  
   
June 30
              
December 31
  
       
2010
    
2009
    
2009
    
2008
    
2007
    
2006
    
2005
  
Income from continuing operations
  
$
  
2,176
  
$
1,076
  
$
2,978
  
$
6,955
  
$
5,153
  
$
4,313
  
$
4,912
  
                                               
Subtract:
                                              
Net income attributable to noncontrolling interest
      
(36
)
  
(21
)
  
(51
)
  
(116
)
  
(75
)
  
(111
)
  
(74
)
Adjusted income from equity investments (a)
      
(67
)
  
(56
)
  
(88
)
  
(84
)
  
(28
)
  
(52
)
  
(53
)
       
2,073
    
999
    
2,839
    
6,755
    
5,050
    
4,150
    
4,875
  
                                               
Add:
                                              
Provision for taxes on income (other than foreign oil and gas taxes)
      
629
    
206
    
695
    
2,213
    
1,577
    
1,545
    
632
  
Interest and debt expense
      
70
    
59
    
140
    
133
    
344
    
297
    
305
  
Portion of lease rentals representative of the interest factor
      
28
    
29
    
57
    
58
    
60
    
52
    
47
  
       
727
    
294
    
892
    
2,404
    
1,981
    
1,894
    
984
  
Earnings before fixed charges
  
$
  
2,800
  
$
1,293
  
$
3,731
  
$
9,159
  
$
7,031
  
$
6,044
  
$
5,769
  
                                               
Fixed charges:
                                              
Interest and debt expense including capitalized interest
  
$
  
108
  
$
107
  
$
218
  
$
201
  
$
403
  
$
352
  
$
331
  
Portion of lease rentals representative of the interest factor
      
28
    
29
    
57
    
58
    
60
    
52
    
47
  
Total fixed charges
  
$
  
136
  
$
136
  
$
275
  
$
259
  
$
463
  
$
404
  
$
378
  
                                               
Ratio of earnings to fixed charges
      
20.59
    
9.51
    
13.57
    
35.36
    
15.19
    
14.96
    
15.26
  
  
(a)
Represents adjustments to arrive at distributed income from equity investees.