Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Phillips 66 | psx-2015630_10q.htm |
| EX-32 - EXHIBIT 32 - Phillips 66 | psx-2015630_ex32.htm |
| EX-31.1 - EXHIBIT 31.1 - Phillips 66 | psx-2015630_ex311.htm |
| EX-31.2 - EXHIBIT 31.2 - Phillips 66 | psx-2015630_ex312.htm |
Exhibit 12
PHILLIPS 66 AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Six Months Ended June 30 | Years Ended December 31 | |||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 2,847 | 5,711 | 5,509 | 6,624 | 6,619 | 1,314 | |||||||||||
Distributions less than equity in earnings of affiliates | 325 | 197 | (354 | ) | (872 | ) | (951 | ) | (723 | ) | ||||||||
Fixed charges, excluding capitalized interest* | 230 | 397 | 365 | 376 | 142 | 153 | ||||||||||||
$ | 3,402 | 6,305 | 5,520 | 6,128 | 5,810 | 744 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 165 | 267 | 275 | 246 | 17 | 1 | |||||||||||
Capitalized interest | 43 | 20 | — | — | — | 4 | ||||||||||||
Interest portion of rental expense | 62 | 125 | 83 | 121 | 116 | 133 | ||||||||||||
$ | 270 | 412 | 358 | 367 | 133 | 138 | ||||||||||||
Ratio of Earnings to Fixed Charges | 12.6 | 15.3 | 15.4 | 16.7 | 43.7 | 5.4 | ||||||||||||
* Includes amortization of capitalized interest totaling approximately $3 million for the six months ended June 30, 2015. Amortization of capitalized interest for the years ended December 31, totaled approximately $6 million in 2014, $7 million in 2013, $9 million in 2012, $9 million in 2011, and $19 million in 2010.