EX-12.1 5 exhibit1220180630.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit



Exhibit 12
WPX Energy, Inc.
Computation of Ratio of Earnings to Fixed Charges
 
Six months
ended June 30,
 
2018
 
(Millions)
Earnings (loss):
 
Loss from continuing operations before income taxes
$
(153
)
Less: Equity (earnings) loss, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees
2

Loss before income taxes and equity (earnings) loss
(151
)
Add:
 
Fixed Charges:
 
Interest accrued, including proportionate share from 50% owned investees and unconsolidated majority-owned investees
85

Capitalized Interest
—

Rental expense representative of interest factor
2

Total fixed charges
87

Less:
 
Capitalized interest
—

Total earnings (loss) as adjusted
$
(64
)
Fixed charges
$
87

Ratio of earnings to fixed charges
(a)

Preferred dividend requirement
$
10

Combined fixed charges and preferred dividends
$
97

Ratio of earnings to combined fixed charges and preferred dividends
(b)

 __________
(a)
Earnings are inadequate to cover fixed charges by $151 million.
(b)
Earnings are inadequate to cover combined fixed charges and preferred dividends by $161 million.