EX-12 18 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, --------------------------------------------------------------------------------------------------------------- 2001 2000 1999 1998 1997 --------------------------------------------------------------------------------------------------------------- EARNINGS AVAILABLE FOR FIXED CHARGES: Net Income $ 398,616 $ 396,931 $ 569,094 $ 56,171 $ 121,970 Less: Capitalized Interest Expense (8,646) (6,708) (10,594) (12,711) (13,706) Add: Fixed Charges 60,468 72,833 77,837 66,982 47,108 Income Tax Provision (Benefit) 232,829 236,626 (1,382) 4,111 41,500 --------- --------- --------- --------- --------- EARNINGS AVAILABLE $ 683,267 $ 699,682 $ 634,955 $ 114,553 $ 196,872 ========= ========= ========= ========= ========= FIXED CHARGES: Interest Expense $ 45,110 $ 61,006 $ 61,819 $ 48,463 $ 27,369 Capitalized Interest 8,646 6,708 10,594 12,711 13,706 Rental Expense Representative of Interest Factor 6,712 5,119 5,424 5,808 6,033 --------- --------- --------- --------- --------- TOTAL FIXED CHARGES 60,468 72,833 77,837 66,982 47,108 Preferred Dividends on a Pre-tax Basis 17,416 17,602 660 - - --------- --------- --------- --------- --------- COMBINED TOTAL FIXED CHARGES AND PREFERRED DIVIDENDS $ 77,884 $ 90,435 $ 78,497 $ 66,982 $ 47,108 ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES 11.30 9.61 8.16 1.71 4.18 RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS 8.77 7.74 8.09 1.71 4.18