EXHIBIT 12


EOG RESOURCES, INC.
Computation of Ratio of Earnings to Fixed Charges
(In Thousands)
(Unaudited)


Year Ended December 31
 
2016
 
2015
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS AVAILABLE FOR FIXED CHARGES:
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
$
(1,096,686
)
$
(4,524,515
)
 
$
2,915,487

$
2,197,109

$
570,279

Less:
Capitalized Interest
 
(31,660
)
 
(41,841
)
 
 
(57,170
)
 
(49,139
)
 
(49,702
)
Add:
Fixed Charges
 
381,325

 
355,539

 
 
337,762

 
348,399

 
323,965

Income Tax Provision (Benefit)
 
(460,819
)
 
(2,397,041
)
 
 
2,079,828

 
1,239,777

 
710,461

TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES
$
(1,207,840
)
$
(6,607,858
)
 
$
5,275,907

$
3,736,146

$
1,555,003

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
$
273,362

$
227,913

 
$
193,171

$
226,721

$
205,789

Capitalized Interest
 
31,660

 
41,841

 
 
57,170

 
49,139

 
49,702

Capitalized Expense Related to Indebtedness
 
8,319

 
9,480

 
 
8,287

 
8,739

 
7,763

Rental Expense Representative of Interest Factor
 
67,984

 
76,305

 
 
79,134

 
63,800

 
60,711

TOTAL FIXED CHARGES
$
381,325

$
355,539

 
$
337,762

$
348,399

$
323,965

 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
(3.17
)
 
(18.59
)
(1) 
 
15.62

 
10.72

 
4.80

 
(1)
For the year ended December 31, 2015, total fixed charges exceeded earnings available for fixed charges by $7.0 billion primarily due to impairment charges recognized in 2015 with respect to our proved oil and gas properties and other assets.