EX-12.1 5 nbl-2013630x10qxex121.htm EXHIBIT 12.1 NBL-2013.6.30-10Q-EX.12.1


Exhibit 12.1
Noble Energy, Inc.
Calculation of Ratio of Earnings to Fixed Charges
 
 
Six Months Ended
 
Year Ended
 
 
June 30,
 
December 31,
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
(millions)
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) From Continuing Operations Before Income Tax and Income From Equity Investees
 
708

 
1,170

 
309

 
730

 
(410
)
 
1,598

Add (Deduct)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
142

 
288

 
207

 
148

 
136

 
109

Capitalized Interest
 
(77
)
 
(151
)
 
(132
)
 
(67
)
 
(45
)
 
(33
)
Distributed Income From Equity Investees
 
84

 
204

 
225

 
139

 
92

 
221

Earnings as Defined
 
857

 
1,511

 
609

 
950

 
(227
)
 
1,895

 
 
 
 
 
 
 
 
 
 
 
 
 
Net Interest Expense
 
58

 
125

 
65

 
72

 
84

 
69

Capitalized Interest
 
77

 
151

 
132

 
67

 
45

 
33

Interest Portion of Rental Expense
 
7

 
12

 
10

 
9

 
7

 
7

Fixed Charges as Defined
 
$
142

 
$
288

 
$
207

 
$
148

 
$
136

 
$
109

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
6.0
 
5.2
 
2.9
 
6.4
 
—

 
17.4
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount by Which Earnings Were Insufficient to Cover Fixed Charges
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(363
)
 
$
—