EX-12 5 h76276exv12.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  
    2010       2009 **     2008 **     2007 **     2006 **
Earnings Available for Fixed Charges
                                        
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges
   $ 19,696       9,507       (2,902 )     22,871       28,147  
Distributions less than equity in earnings of affiliates
     (1,073 )     (1,254 )     5,127       (1,400 )     (738 )
Fixed charges, excluding capitalized interest*
     1,573       1,700       1,288       1,680       1,410  
   
 
   $ 20,196       9,953       3,513       23,151       28,819  
   
 
                                        
Fixed Charges
                                        
Interest and expense on indebtedness, excluding
capitalized interest
   $ 1,187       1,289       935       1,253       1,087  
Capitalized interest
     471       487       568       565       458  
Interest portion of rental expense
     185       205       207       171       232  
Interest expense relating to guaranteed debt of affiliates
     -       -       3       19       -  
   
 
   $ 1,843       1,981       1,713       2,008       1,777  
   
Ratio of Earnings to Fixed Charges
     11.0       5.0       2.1       11.5       16.2  
   
*
Includes amortization of capitalized interest totaling approximately $201 million in 2010, $206 million in 2009, $143 million in 2008, $237 million in 2007 and $92 million in 2006.
**
Recast to reflect a change in accounting principle. See Note 2—Changes in Accounting Principles in the company’s Annual Report on Form 10-K for the period ended December 31, 2010, for more information.