EX-12.1 2 nbl-2013930x10qxex121.htm EXHIBIT 12.1 NBL-2013.9.30-10Q-Ex.12.1


Exhibit 12.1
Noble Energy, Inc.
Calculation of Ratio of Earnings to Fixed Charges
 
 
Nine Months Ended
 
Year Ended
 
 
September 30,
 
December 31,
 
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
(millions)
 
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) From Continuing Operations Before Income Tax and Income From Equity Investees
 
965

 
1,170

 
309

 
730

 
(410
)
 
1,598

Add (Deduct)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
216

 
288

 
207

 
148

 
136

 
109

Capitalized Interest
 
(100
)
 
(151
)
 
(132
)
 
(67
)
 
(45
)
 
(33
)
Distributed Income From Equity Investees
 
148

 
204

 
225

 
139

 
92

 
221

Earnings as Defined
 
1,229

 
1,511

 
609

 
950

 
(227
)
 
1,895

 
 
 
 
 
 
 
 
 
 
 
 
 
Net Interest Expense
 
104

 
125

 
65

 
72

 
84

 
69

Capitalized Interest
 
100

 
151

 
132

 
67

 
45

 
33

Interest Portion of Rental Expense
 
12

 
12

 
10

 
9

 
7

 
7

Fixed Charges as Defined
 
$
216

 
$
288

 
$
207

 
$
148

 
$
136

 
$
109

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
5.7
 
5.2
 
2.9
 
6.4
 
—

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

 
$
—

 
$
—

 
$
—

 
$
(363
)
 
$
—