EX-12 4 exhibit12.txt COMPUTATION OF RATIOS STATEMENT EXHIBIT 12 EOG RESOURCES, INC. Computation of Ratio of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Dividends (In Thousands) (Unaudited) Year Ended December 31, ----------------------------------------------------------------------------------------------------------- 2000 1999 1998 1997 1996 ----------------------------------------------------------------------------------------------------------- EARNINGS AVAILABLE FOR FIXED CHARGES: Net Income $396,931 $569,094 $ 56,171 $121,970 $140,008 Less: Capitalized Interest Expense (6,708) (10,594) (12,711) (13,706) (9,136) Add: Fixed Charges 67,714 72,413 61,290 41,423 21,997 Income Tax Provision (Benefit) 236,626 (1,382) 4,111 41,500 50,954 -------- -------- -------- -------- -------- EARNINGS AVAILABLE $694,563 $629,531 $108,861 $191,187 $203,823 ======== ======== ======== ======== ======== FIXED CHARGES: Interest Expense $ 61,006 $ 61,819 $ 48,463 $ 27,369 $ 12,370 Capitalized Interest 6,708 10,594 12,711 13,706 9,136 Rental Expense Representative of Interest Factor - - 116 348 491 -------- -------- -------- -------- -------- TOTAL FIXED CHARGES 67,714 72,413 61,290 41,423 21,997 Preferred Dividends on a Pre-tax Basis 17,602 660 - - - -------- -------- -------- -------- -------- COMBINED TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS $ 85,316 $ 73,073 $ 61,290 $ 41,423 $ 21,997 ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 10.26 8.69 1.78 4.62 9.27 RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS 8.14 8.62 1.78 4.62 9.27