EX-12.1 7 hal_06302018-ex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


    
Exhibit 12.1

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


 
Six Months Ended June 30, 2018
Year Ended December 31
 
2017
2016
2015
2014
2013
Earnings available for fixed charges:
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
822

$
682

$
(7,625
)
$
(936
)
$
4,712

$
2,764

Add:
 
 
 
 
 
 
Distributed earnings from equity in unconsolidated affiliates
4

15

29

11

16

19

Fixed charges
336

776

791

634

554

511

Subtotal
1,162

1,473

(6,805
)
(291
)
5,282

3,294

Less:
 
 
 
 
 
 
Equity in earnings of unconsolidated affiliates
—

10

31

28

15

9

Total earnings (loss) available for fixed charges
$
1,162

$
1,463

$
(6,836
)
$
(319
)
$
5,267

$
3,285

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
Interest expense
$
300

$
705

$
698

$
463

$
396

$
339

Rental expense representative of interest
36

71

93

171

158

172

Total fixed charges
$
336

$
776

$
791

$
634

$
554

$
511

 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.5

1.9

(a)

(a)

9.5

6.4

(a) Total earnings (loss) available for fixed charges for the years ended December 31, 2016 and December 31, 2015 were inadequate to cover fixed charges by $7.6 billion and $953 million, respectively. Reported losses during these periods were primarily due to merger-related costs and termination fee of $4.1 billion and impairments and other charges of $3.4 billion for the year ended December 31, 2016, and impairments and other charges of $2.2 billion for the year ended December 31, 2015.