WPX ENERGY, INC. - FORM 10-K - EX-12 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 26, 2015

Attached files

file filename
EX-99.1 - REPORT OF INDEPENDENT PETROLEUM ENGINEERS AND GEOLOGISTS - WPX ENERGY, INC.exhibit9912014.htm
EX-24.1 - POWERS OF ATTORNEY - WPX ENERGY, INC.exhibit2412014.htm
EX-23.2 - CONSENT OF INDEPENDENT PETROLEUM ENGINEERS AND GEOLOGISTS - WPX ENERGY, INC.exhibit2322014.htm
EX-21.1 - LIST OF SUBSIDIARIES - WPX ENERGY, INC.exhibit2112014.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, ERNST & YOUNG LLP - WPX ENERGY, INC.exhibit2312014.htm
EX-31.1 - CERTIFICATION BY THE CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 - WPX ENERGY, INC.exhibit3112014.htm
EX-31.1 - CERTIFICATION BY THE CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 - WPX ENERGY, INC.exhibit3122014.htm
EX-32.1 - CERTIFICATION BY THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER - WPX ENERGY, INC.exhibit3212014.htm
EX-10.14 - FORM OF TIME-BASED RESTRICTED STOCK UNIT AGREEMENT - WPX ENERGY, INC.exhibit10142014.htm
EX-10.13 - FORM OF TIME-BASED RESTRICTED STOCK AGREEMENT - WPX ENERGY, INC.exhibit10132014.htm
EXCEL - IDEA: XBRL DOCUMENT - WPX ENERGY, INC.Financial_Report.xls
10-K - 10-K - WPX ENERGY, INC.wpx20141231-10xk.htm


Exhibit 12
WPX Energy, Inc.
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
 
2011
 
2010
 
 
(Millions)
Earnings:
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
 
$
204

 
$
(1,728
)
 
$
(258
)
 
$
181

 
$
(886
)
Less: Equity earnings, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees
 
(5
)
 
(4
)
 
(4
)
 
(4
)
 
(4
)
Income (loss) from continuing operations before income taxes and equity earnings
 
199

 
(1,732
)
 
(262
)
 
177

 
(890
)
Add:
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest accrued, including proportionate share from 50% owned investees and unconsolidated majority-owned investees (a)
 
123

 
108

 
102

 
118

 
124

Rental expense representative of interest factor
 
6

 
5

 
5

 
3

 
4

Total fixed charges
 
129

 
113

 
107

 
121

 
128

Distributed income of equity-method investees, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees
 
4

 
3

 
4

 
4

 
4

Less:
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(2
)
 
(1
)
 
(2
)
 
(1
)
 
(1
)
Total earnings as adjusted
 
$
330

 
$
(1,617
)
 
$
(153
)
 
$
301

 
$
(759
)
Fixed charges
 
$
129

 
$
113

 
$
107

 
$
121

 
$
128

Ratio of earnings to fixed charges
 
2.56

 
(b)

 
(c)

 
2.49

 
(d)

 __________
(a)
Does not include interest related to income taxes, including interest related to liabilities for uncertain tax positions, which is included in provision (benefit) for income taxes in our Consolidated Statements of Operations.
(b)
Earnings are inadequate to cover fixed charges by $1,730 million.
(c)
Earnings are inadequate to cover fixed charges by $260 million.
(d)
Earnings are inadequate to cover fixed charges by $887 million.




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