EX-12.1 6 dex121.htm COMPUTATION DISCONTINUED OPERATIONS COMPUTATION DISCONTINUED OPERATIONS

Exhibit 12.1

 

Marathon Oil Corporation

Computation of Ratio of Earnings to Combined Fixed Charges

and Preferred Stock Dividends

TOTAL ENTERPRISE BASIS—Unaudited

(Dollars in Millions)

 

 

    

Year Ended December 31

    

2002

   

2001

   

2000

   

1999

   

1998

Portion of rentals representing interest

   

$

66

   

$

54

   

$

50

   

$

47

   

$

51

Capitalized interest, including discontinued operations

   

 

16

   

 

27

   

 

19

   

 

26

   

 

46

Other interest and fixed charges, including discontinued operations

   

 

316

   

 

349

   

 

375

   

 

365

   

 

318

Pretax earnings which would be required to cover preferred stock dividend requirements of parent  

   

 

—  

   

 

12

   

 

12

   

 

14

   

 

15

    
  
  
  
  

Combined fixed charges and preferred stock dividends (A)

   

$

398

   

$

442

   

$

456

   

$

452

   

$

430

    
  
  
  
  

Earnings-pretax income with applicable adjustments (B)

   

$

1,495

   

$

3,212

   

$

1,807

   

$

1,864

   

$

1,084

                                    

Ratio of (B) to (A)

   

 

3.75

   

 

7.27

   

 

3.96

   

 

4.12

   

 

2.52