EX-12 2 h69477exv12.htm EX-12 exv12
Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
                                         
    Millions of Dollars  
    Years Ended December 31  
    2009     2008     2007     2006     2005  
Earnings Available for Fixed Charges
                                        
Income from continuing operations before income taxes and minority interest
   $ 9,957       (3,565 )     23,310       28,371       23,547  
Distributions less than equity in earnings of fifty-percent-or-less-owned companies
     (1,704 )     5,790       (1,839 )     (962 )     (1,785 )
Fixed charges, excluding capitalized interest*
     1,700       1,288       1,680       1,410       747  
 
 
   $ 9,953       3,513       23,151       28,819       22,509  
 
 
                                        
Fixed Charges
                                        
Interest and expense on indebtedness, excluding capitalized interest
   $ 1,289       935       1,253       1,087       497  
Capitalized interest
     487       568       565       458       395  
Preferred dividend requirements of subsidiary and capital trusts
     —       —       —       —       —  
Interest portion of rental expense
     205       207       171       232       188  
Interest expense relating to guaranteed debt of fifty-percent-or-less-owned companies
     —       3       19       —       —  
Interest expense relating to guaranteed debt of greater than fifty-percent-owned companies
     —       —       —       —       —  
 
 
   $ 1,981       1,713       2,008       1,777       1,080  
 
Ratio of Earnings to Fixed Charges
     5.0       2.1       11.5       16.2       20.8  
 
 
*   Includes amortization of capitalized interest totaling approximately $206 million in 2009, $143 million in 2008, $237 million in 2007, $92 million in 2006 and $62 million in 2005.