Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Phillips 66 | psx-2014930_10q.htm |
| EX-32 - EXHIBIT 32 - Phillips 66 | psx-2014930_ex32.htm |
| EX-31.1 - EXHIBIT 31.1 - Phillips 66 | psx-2014930_ex311.htm |
| EX-31.2 - EXHIBIT 31.2 - Phillips 66 | psx-2014930_ex312.htm |
| EX-10.1 - EXHIBIT 10.1 - Phillips 66 | psx-2014930_ex101.htm |
| EXCEL - IDEA: XBRL DOCUMENT - Phillips 66 | Financial_Report.xls |
Exhibit 12
PHILLIPS 66 AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Nine Months Ended September 30 | Years Ended December 31 | |||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 4,359 | 5,509 | 6,624 | 6,619 | 1,314 | 843 | |||||||||||
Distributions less than equity in earnings of affiliates | 360 | (354 | ) | (872 | ) | (951 | ) | (723 | ) | (562 | ) | |||||||
Fixed charges, excluding capitalized interest* | 261 | 365 | 376 | 142 | 153 | 160 | ||||||||||||
$ | 4,980 | 5,520 | 6,128 | 5,810 | 744 | 441 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 194 | 275 | 246 | 17 | 1 | 1 | |||||||||||
Capitalized interest | 10 | — | — | — | 4 | 57 | ||||||||||||
Interest portion of rental expense | 62 | 83 | 121 | 116 | 133 | 153 | ||||||||||||
$ | 266 | 358 | 367 | 133 | 138 | 211 | ||||||||||||
Ratio of Earnings to Fixed Charges | 18.7 | 15.4 | 16.7 | 43.7 | 5.4 | 2.1 | ||||||||||||
* Includes amortization of capitalized interest totaling approximately $5 million for the nine months ended September 30, 2014. Amortization of capitalized interest for the years ended December 31, totaled approximately $7 million in 2013, $9 million in 2012, $9 million in 2011, $19 million in 2010, and $6 million in 2009.