Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - OCCIDENTAL PETROLEUM CORP /DE/ | oxyform10q63014.htm |
| EX-31.1 - EXHIBIT - OCCIDENTAL PETROLEUM CORP /DE/ | oxyexhibit31110q6302014.htm |
| EXCEL - IDEA: XBRL DOCUMENT - OCCIDENTAL PETROLEUM CORP /DE/ | Financial_Report.xls |
| EX-32.1 - EXHIBIT - OCCIDENTAL PETROLEUM CORP /DE/ | oxyexhibit32110q6302014.htm |
| EX-31.2 - EXHIBIT - OCCIDENTAL PETROLEUM CORP /DE/ | oxyexhibit31210q6302014.htm |
EXHIBIT 12 | |
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)
Six Months Ended June 30 | Year Ended December 31 | |||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
Income from continuing operations (a) | $ | 2,824 | $ | 2,686 | $ | 5,922 | $ | 4,635 | $ | 6,640 | $ | 4,641 | $ | 3,202 | ||||||||||||||
Add/(Subtract): | ||||||||||||||||||||||||||||
Net income attributable to noncontrolling interest | (5 | ) | — | — | — | — | (72 | ) | (51 | ) | ||||||||||||||||||
Adjusted income from equity investments (b) | 1 | (18 | ) | 52 | 163 | (33 | ) | (60 | ) | (88 | ) | |||||||||||||||||
2,820 | 2,668 | 5,974 | 4,798 | 6,607 | 4,509 | 3,063 | ||||||||||||||||||||||
Add: | ||||||||||||||||||||||||||||
Provision for taxes on income (other than foreign oil and gas taxes) | 941 | 792 | 1,894 | 708 | 1,795 | 1,099 | 695 | |||||||||||||||||||||
Interest and debt expense | 38 | 64 | 118 | 130 | 135 | (c) | 116 | 140 | ||||||||||||||||||||
Portion of lease rentals representative of the interest factor | 30 | 29 | 68 | 59 | 60 | 57 | 57 | |||||||||||||||||||||
1,009 | 885 | 2,080 | 897 | 1,990 | 1,272 | 892 | ||||||||||||||||||||||
Earnings before fixed charges | $ | 3,829 | $ | 3,553 | $ | 8,054 | $ | 5,695 | $ | 8,597 | $ | 5,781 | $ | 3,955 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest and debt expense including capitalized interest | $ | 128 | $ | 134 | $ | 269 | $ | 254 | $ | 221 | (c) | $ | 203 | $ | 218 | |||||||||||||
Portion of lease rentals representative of the interest factor | 30 | 29 | 68 | 59 | 60 | 57 | 57 | |||||||||||||||||||||
Total fixed charges | $ | 158 | $ | 163 | $ | 337 | $ | 313 | $ | 281 | $ | 260 | $ | 275 | ||||||||||||||
Ratio of earnings to fixed charges | 24.23 | 21.80 | 23.90 | 18.19 | 30.59 | 22.23 | 14.38 | |||||||||||||||||||||
Note: Argentine operations have been reflected as discontinued operations for all periods. | ||
(a) | The year ended December 31, 2013 amount includes a $665 million after-tax gain for the sale of a portion of an investment in the General Partner of Plains All-American Pipeline L.P., a $63 million after-tax gain for the sale of an investment in Carbocloro, a Brazilian chemical facility and $395 million of after-tax charges related to the impairment of non-producing domestic acreage. The year ended December 31, 2012 amount includes after-tax charges of $1.1 billion for the impairment of domestic gas assets and related items. | |
(b) | Represents adjustments to arrive at distributed income from equity investees. | |
(c) | Excludes a pre-tax charge of $163 million for the early redemption of debt. | |