EX-12 2 d630380dex12.htm EX-12

Exhibit 12

CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES

TOTAL ENTERPRISE

Computation of Ratio of Earnings to Fixed Charges

|  | Millions of Dollars |
|  | Nine Months Ended September 30 |
|  | 2018 |  |  | 2017 |
Earnings Available for Fixed Charges |  |  |  |  |  |  |  |
Income (loss) before income taxes and noncontrolling interests that have not incurred fixed charges |  | $ | 7,263 |  |  |  | (3,983 | )
Distributions less than equity in earnings of affiliates |  |  | (11 | ) |  |  | (193 | )
Fixed charges, excluding capitalized interest* |  |  | 702 |  |  |  | 1,101 |
|  | $ | 7,954 |  |  |  | (3,075 | )
Fixed Charges |  |  |  |  |  |  |  |
Interest and debt expense, excluding capitalized interest |  | $ | 547 |  |  |  | 872 |
Capitalized interest |  |  | 132 |  |  |  | 86 |
Interest portion of rental expense |  |  | 48 |  |  |  | 97 |
|  | $ | 727 |  |  |  | 1,055 |
Ratio of Earnings to Fixed Charges** |  |  | 10.9 |  |  |  | — |

*Includes amortization of capitalized interest totaling approximately $107 million in 2018 and $132 million in 2017.

**Earnings for the nine-month period ended September 30, 2017 were inadequate to cover fixed charges by $4,130 million.