EX-12 4 anadarko_exhibit12-63001.htm ANADARKO JUNE 30, 2001 EXHIBIT 12 COMP OF RATIOS Anadarko June 30, 2001 Exhibit 12

EXHIBIT 12

 

ANADARKO PETROLEUM CORPORATION
CONSOLIDATED STATEMENT OF COMPUTATION OF RATIOS OF
EARNINGS TO FIXED CHARGES AND EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Six Months Ended June 30, 2001 and Five Years Ended December 31, 2000

Six Months

Ended

June 30

Year Ended December 31

millions except ratio amounts

2001

2000

1999

1998

1997

1996

Gross Income

$

1,699

 

$

1,519

 

$

179

 

$

(7

)

$

205

 

$

197

 

Rentals

 

7

 

 

16

 

 

11

 

 

12

 

 

8

 

 

4

 

Earnings

 

1,706

 

 

1,535

 

 

190

 

 

5

 

 

213

 

 

201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Interest Expense

 

148

 

 

193

 

 

96

 

 

82

 

 

62

 

 

56

 

Rentals

 

7

 

 

16

 

 

11

 

 

13

 

 

8

 

 

4

 

Fixed Charges

$

155

 

$

209

 

$

107

 

$

95

 

$

70

 

$

60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Dividends

 

6

 

 

17

 

 

17

 

 

11

 

 

--

 

 

--

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 and Preferred Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Dividends

$

161

 

$

226

 

$

124

 

$

106

 

$

70

 

$

60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Fixed Charges

 

11.01

 

 

7.35

 

 

1.77

 

 

0.05

 

 

3.04

 

 

3.34

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Combined Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 and Preferred Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Dividends

 

10.60

 

 

6.80

 

 

1.53

 

 

0.05

 

 

3.04

 

 

3.34

 

 

 

As a result of the Company's net loss in 1998, Anadarko's earnings did not cover fixed charges by $90 million and did not cover combined fixed charges and preferred stock dividends by $101 million.

These ratios were computed by dividing earnings by either fixed charges or combined fixed charges and preferred stock dividends. For this purpose, earnings include income before income taxes and fixed charges. Fixed charges include interest and amortization of debt expenses and the estimated interest component of rentals. Preferred stock dividends are adjusted to reflect the amount of pretax earnings required for payment.