Attached files
| file | filename |
|---|---|
| EX-5.1 - EX-5.1 - HESS CORP | d743923dex51.htm |
| EX-4.3 - EX-4.3 - HESS CORP | d743923dex43.htm |
| EX-4.2 - EX-4.2 - HESS CORP | d743923dex42.htm |
| EX-1.1 - EX-1.1 - HESS CORP | d743923dex11.htm |
| 8-K - FORM 8-K - HESS CORP | d743923d8k.htm |
Exhibit 12.1
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
| YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||
| March 31, 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
| Earnings |
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| Consolidated income from continuing operations before income taxes |
$ | 658 | $ | 4,493 | $ | 3,426 | $ | 2,240 | $ | 3,033 | $ | 1,168 | ||||||||||||
| Add: Fixed charges (excluding capitalized interest) |
111 | 488 | 517 | 499 | 490 | 500 | ||||||||||||||||||
| Add: Amortization of capitalized interest |
6 | 25 | 30 | 39 | 52 | 44 | ||||||||||||||||||
| Add: Distributed earnings of equity investees |
— | 3 | 11 | 9 | 7 | 5 | ||||||||||||||||||
| Less: (Earnings)/losses of equity investees |
95 | (17 | ) | (12 | ) | 1,068 | 506 | 220 | ||||||||||||||||
| Less: Pretax noncontrolling interests in (income) loss of consolidated subsidiaries with no fixed charges |
(36 | ) | (171 | ) | (44 | ) | 32 | (12 | ) | (64 | ) | |||||||||||||
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| Total earnings |
$ | 834 | $ | 4,821 | $ | 3,928 | $ | 3,887 | $ | 4,076 | $ | 1,873 | ||||||||||||
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| Fixed Charges |
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| Interest expense (a) |
$ | 93 | $ | 416 | $ | 429 | $ | 391 | $ | 369 | $ | 367 | ||||||||||||
| Interest capitalized |
19 | 60 | 28 | 13 | 5 | 6 | ||||||||||||||||||
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| Total interest incurred (including amortization of debt discount) |
112 | 476 | 457 | 404 | 374 | 373 | ||||||||||||||||||
| Portion of rent expense representative of interest (b) |
18 | 72 | 88 | 108 | 121 | 133 | ||||||||||||||||||
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| Total fixed charges |
$ | 130 | $ | 548 | $ | 545 | $ | 512 | $ | 495 | $ | 506 | ||||||||||||
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| Ratio of Earnings to Fixed Charges |
6.4 | 8.8 | 7.2 | 7.6 | 8.2 | 3.7 | ||||||||||||||||||
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| (a) | Includes amortization of debt issue costs and discounts or premiums. |
| (b) | Represents management’s estimate of the interest portion of rent expense. |