EX-12 5 exh12.htm STATEMENT RE COMPUTATION OF RATIOS

EXHIBIT 12

 

EOG RESOURCES, INC.
Computation of Ratio of Earnings to Fixed Charges and
Combined Fixed Charges and to Preferred Stock Dividends
(In Thousands)
(Unaudited)

 

Year Ended December 31

  

2007

  

2006

  

2005

  

2004

  

2003
                     

EARNINGS AVAILABLE FOR

                   

FIXED CHARGES:

                    

Net Income Before Cumulative Effect of

                    

Change in Accounting Principle (1)

$

1,089,918 

$

1,299,885 

$

1,259,576 

$

624,855 

$

437,276 

Less:

Capitalized Interest Expense

  

(29,324)

  

(19,900)

  

(14,596)

  

(9,631)

  

(8,541)

Add:

Fixed Charges

  

96,228 

  

80,050 

  

90,933 

  

83,264 

  

78,138 

Income Tax Provision

  

540,950 

  

612,756 

  

705,561 

  

301,157 

  

216,600 

EARNINGS AVAILABLE

$

1,697,772 

$

1,972,791 

$

2,041,474 

$

999,645 

$

723,473 
                     
                     

FIXED CHARGES:

                    

Interest Expense

$

45,628 

$

43,158 

$

62,506 

$

63,128 

$

58,711 

Capitalized Interest

  

29,324 

  

19,900 

  

14,596 

  

9,631 

  

8,541 

Capitalized Expense Related to Indebtedness

  

1,150 

  

1,655 

  

2,381 

  

1,994 

  

3,477 

Rental Expense Representative of Interest Factor

  

20,126 

  

15,337 

  

11,450 

  

8,511 

  

7,409 

TOTAL FIXED CHARGES

 

96,228 

  

80,050 

  

90,933 

  

83,264 

  

78,138 

Preferred Stock Dividends on a Pre-tax Basis

  

9,970 

  

16,179 

  

11,595 

  

16,142 

  

16,497 

COMBINED TOTAL FIXED CHARGES AND

                    

   PREFERRED STOCK DIVIDENDS

$

106,198 

$

96,229 

$

102,528 

$

99,406 

$

94,635 
                     

RATIO OF EARNINGS TO

                    

   FIXED CHARGES

  

17.64 

  

24.64 

  

22.45 

  

12.01 

  

9.26 
                     

RATIO OF EARNINGS TO COMBINED FIXED

                    

   CHARGES AND PREFERRED STOCK

                   

   DIVIDENDS

  

15.99 

  

20.50 

  

19.91 

  

10.06 

  

7.64 
                     

(1) EOG adopted Statement of Financial Accounting Standards (SFAS) No. 143, "Accounting for Asset Retirement Obligations" on January 1, 2003.