EXHIBIT 12.1

HALLIBURTON COMPANY

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

(Millions of dollars, except ratios)

	Nine months ended September		Year Ended December 31
	30, 2008		2007		2006		2005		2004		2003
Earnings available for fixed charges:
Income from continuing operations
before income taxes and minority interest	$	2,070	$	3,460	$	3,199	$	1,997	$	990	$	639
Add:
Distributed earnings from equity in
unconsolidated affiliates		22		43		28		34		30		10
Fixed charges		154		208		224		248		266		173
Subtotal		2,246		3,711		3,451		2,279		1,286		822
Less:
Equity in earnings (losses) of
unconsolidated affiliates		42		57		65		42		47		(3	)
Total earnings available for fixed charges	$	2,204	$	3,654	$	3,386	$	2,237	$	1,239	$	825
Fixed charges:
Interest expense	$	112	$	154	$	165	$	196	$	220	$	131
Rental expense representative of interest		42		54		59		52		46		42
Total fixed charges	$	154	$	208	$	224	$	248	$	266	$	173
Ratio of earnings to fixed charges		14.3		17.6		15.1		9.0		4.7		4.8

All periods presented reflect the reclassification of KBR, Inc. to discontinued operations.