EX-12.1 5 hal_12312017-ex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1
HALLIBURTON COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(Millions of dollars, except ratios)

| Year Ended December 31
| 2017 | 2016 | 2015 | 2014 | 2013
Earnings available for fixed charges: |  |  |  |  |
Income (loss) from continuing operations before income taxes | $ | 682 |  | $ | (7,625 | ) | $ | (936 | ) | $ | 4,712 |  | $ | 2,764 |
Add: |  |  |  |  |
Distributed earnings from equity in unconsolidated affiliates | 15 |  | 29 |  | 11 |  | 16 |  | 19 |
Fixed charges | 776 |  | 791 |  | 634 |  | 554 |  | 511 |
Subtotal | 1,473 |  | (6,805 | ) | (291 | ) | 5,282 |  | 3,294 |
Less: |  |  |  |  |
Equity in earnings of unconsolidated affiliates | 10 |  | 31 |  | 28 |  | 15 |  | 9 |
Total earnings (loss) available for fixed charges | $ | 1,463 |  | $ | (6,836 | ) | $ | (319 | ) | $ | 5,267 |  | $ | 3,285 |
Fixed charges: |  |  |  |  |
Interest expense | $ | 705 |  | $ | 698 |  | $ | 463 |  | $ | 396 |  | $ | 339 |
Rental expense representative of interest | 71 |  | 93 |  | 171 |  | 158 |  | 172 |
Total fixed charges | $ | 776 |  | $ | 791 |  | $ | 634 |  | $ | 554 |  | $ | 511 |
Ratio of earnings to fixed charges | 1.9 |  | (a) |  | (a) |  | 9.5 |  | 6.4 |

(a) Total earnings (loss) available for fixed charges for the years ended December 31, 2016 and December 31, 2015 were inadequate to cover fixed charges by $7.6 billion and $953 million, respectively. Reported losses during these periods were primarily due to merger-related costs and termination fee of $4.1 billion and impairments and other charges of $3.4 billion for the year ended December 31, 2016, and impairments and other charges of $2.2 billion for the year ended December 31, 2015.