EX-12.1 2 hal_3312015-ex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES HAL_3.31.2015-Ex 12.1


    
Exhibit 12.1

HALLIBURTON COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Millions of dollars, except ratios)


 
Three Months Ended March 31, 2015
Year Ended December 31
 
2014
2013
2012
2011
2010
Earnings available for fixed charges:
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
(878
)
$
4,712

$
2,764

$
3,822

$
4,449

$
2,655

Add:
 
 
 
 
 
 
Distributed earnings from equity in unconsolidated affiliates
—

16

19

4

13

13

Fixed charges
149

554

511

445

384

402

Subtotal
(729
)
5,282

3,294

4,271

4,846

3,070

Less:
 
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
7

15

9

14

20

20

Total earnings (loss) available for fixed charges
$
(736
)
$
5,267

$
3,285

$
4,257

$
4,826

$
3,050

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
109

$
396

$
339

$
305

$
268

$
308

Rental expense representative of interest
40

158

172

140

116

94

Total fixed charges
$
149

$
554

$
511

$
445

$
384

$
402

 
 
 
 
 
 
 
Ratio of earnings to fixed charges
(a)

9.5

6.4

9.6

12.6

7.6

(a) Total earnings (loss) available for fixed charges for the quarter ended March 31, 2015 was inadequate to cover fixed charges by $885 million.