EX-12 17 ex12-2010.htm EXHIBIT 12 ex12-2010.htm
EXHIBIT 12


OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)



For the years ended December 31,
  
2010
  
2009
  
2008
  
2007
  
2006
  
Income from continuing operations
  
$
4,641
  
$
3,202
  
$
7,299
  
$
5,147
  
$
4,238
  
                                 
Subtract:
                                
Net income attributable to noncontrolling interest
    
(72
)
  
(51
)
  
(116
)
  
(75
)
  
(111
)
Adjusted income from equity investments (a)
    
(60
)
  
(88
)
  
(84
)
  
(28
)
  
(52
)
     
4,509
    
3,063
    
7,099
    
5,044
    
4,075
  
Add:
                                
Provision for taxes on income (other than
                                
foreign oil and gas taxes)
    
1,099
    
695
    
2,213
    
1,577
    
1,545
  
Interest and debt expense
    
116
    
140
    
133
    
344
    
297
  
Portion of lease rentals representative of the interest factor
    
57
    
57
    
58
    
60
    
52
  
     
1,272
    
892
    
2,404
    
1,981
    
1,894
  
Earnings before fixed charges
  
$
5,781
  
$
3,955
  
$
9,503
  
$
7,025
  
$
5,969
  
                                 
Fixed charges:
                                
Interest and debt expense including capitalized interest
  
$
203
  
$
218
  
$
201
  
$
403
  
$
352
  
Portion of lease rentals representative of the interest factor
    
57
    
57
    
58
    
60
    
52
  
Total fixed charges
  
$
260
  
$
275
  
$
259
  
$
463
  
$
404
  
                                 
Ratio of earnings to fixed charges
    
22.23
    
14.38
    
36.69
    
15.17
    
14.77
  
Note: Argentine operations have been reflected as held for sale for all periods.
(a)
Represent adjustments to arrive at distributed income of equity investees.