Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Phillips 66 | psx-2016630_10q.htm |
| EX-32 - EXHIBIT 32 - Phillips 66 | psx-2016630_ex32.htm |
| EX-31.2 - EXHIBIT 31.2 - Phillips 66 | psx-2016630_ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - Phillips 66 | psx-2016630_ex311.htm |
| EX-10.1 - EXHIBIT 10.1 - Phillips 66 | psx-2016630_ex101.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 | |||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 1,311 | 6,035 | 5,711 | 5,509 | 6,624 | 6,619 | |||||||||||
Distributions less than equity in earnings of affiliates | (515 | ) | 185 | 197 | (354 | ) | (872 | ) | (951 | ) | ||||||||
Fixed charges, excluding capitalized interest* | 244 | 456 | 397 | 365 | 376 | 142 | ||||||||||||
$ | 1,040 | 6,676 | 6,305 | 5,520 | 6,128 | 5,810 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 169 | 310 | 267 | 275 | 246 | 17 | |||||||||||
Capitalized interest | 40 | 106 | 20 | — | — | — | ||||||||||||
Interest portion of rental expense | 70 | 140 | 125 | 83 | 121 | 116 | ||||||||||||
$ | 279 | 556 | 412 | 358 | 367 | 133 | ||||||||||||
Ratio of Earnings to Fixed Charges | 3.7 | 12.0 | 15.3 | 15.4 | 16.7 | 43.7 | ||||||||||||
* Includes amortization of capitalized interest totaling approximately $5 million for the six months ended June 30, 2016. Amortization of capitalized interest for the years ended December 31, totaled approximately $7 million in 2015, $6 million in 2014, $7 million in 2013, $9 million in 2012, and $9 million in 2011.