EX-12.1 3 exhibit_12-1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Unassociated Document
EXHIBIT 12.1


HALLIBURTON COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Millions of dollars, except ratios)


   
Three
Months
Ended
March 31,
    
 
 
Year Ended December 31
  
   
 2009
    
2008
    
2007
    
2006
    
2005
    
2004
  
Earnings available for fixed charges:
                                    
Income from continuing operations
                                    
before income taxes and noncontrolling
interest
  
$
 560     $ 3,849     $ 3,447     $ 3,185     $ 1,985     $ 978  
Add:
                                                
Distributed earnings from equity in
                                                
unconsolidated affiliates
     —       30       43       28       34       30  
Fixed charges
     69       232       222       238       260       278  
Subtotal
     629       4,111       3,712       3,451       2,279       1,286  
Less:
                                                
Equity in earnings of unconsolidated
                                                
       affiliates
     1       50       57       65       42       47  
Total earnings available for fixed charges
   $ 628     $ 4,061     $ 3,655     $ 3,386     $ 2,237     $ 1,239  
                                                 
Fixed charges:
                                                
Interest expense
   $ 53     $ 167     $ 168     $ 179     $ 208     $ 232  
Rental expense representative of interest
     16       65       54       59       52       46  
Total fixed charges
   $ 69     $ 232     $ 222     $ 238     $ 260     $ 278  
                                                 
Ratio of earnings to fixed charges
     9.1       17.5       16.5       14.2       8.6       4.5  


    All periods presented reflect the adoption of new accounting standards and the reclassification of KBR, Inc. to discontinued operations.