Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - CHEVRON CORP | cvx-09302016x10qdoc.htm |
| EX-32.2 - EXHIBIT 32.2 - CHEVRON CORP | cvx09302016ex322cfo-sox906.htm |
| EX-32.1 - EXHIBIT 32.1 - CHEVRON CORP | cvx09302016ex321ceo-sox906.htm |
| EX-31.2 - EXHIBIT 31.2 - CHEVRON CORP | cvx09302016ex312cfo-sox302.htm |
| EX-31.1 - EXHIBIT 31.1 - CHEVRON CORP | cvx09302016ex311ceo-sox302.htm |
Exhibit 12.1
CHEVRON CORPORATION — TOTAL ENTERPRISE BASIS
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | Year Ended December 31 | ||||||||||||||||||
September 30, 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
(Millions of dollars) | |||||||||||||||||||
Net Income (Loss) Attributable to Chevron Corporation | $ | (912 | ) | $ | 4,587 | $ | 19,241 | $ | 21,423 | $ | 26,179 | ||||||||
Income Tax Expense (Benefit) | (1,803 | ) | 132 | 11,892 | 14,308 | 19,996 | |||||||||||||
Distributions Less Than Equity in Earnings of Affiliates | (708 | ) | (760 | ) | (2,202 | ) | (1,178 | ) | (1,351 | ) | |||||||||
Noncontrolling Interests | 43 | 123 | 69 | 174 | 157 | ||||||||||||||
Previously Capitalized Interest Charged to Earnings During Period | 64 | 120 | 100 | 96 | 123 | ||||||||||||||
Interest and Debt Expense | 143 | — | — | — | — | ||||||||||||||
Interest Portion of Rentals (1) | 215 | 345 | 356 | 342 | 316 | ||||||||||||||
Earnings Before Provision for Taxes and Fixed Charges | $ | (2,958 | ) | $ | 4,547 | $ | 29,456 | $ | 35,165 | $ | 45,420 | ||||||||
Interest and Debt Expense | 143 | — | — | — | — | ||||||||||||||
Interest Portion of Rentals (1) | 215 | 345 | 356 | 342 | 316 | ||||||||||||||
Preferred Stock Dividends of Subsidiaries | — | — | — | — | — | ||||||||||||||
Capitalized Interest | 401 | 495 | 358 | 284 | 230 | ||||||||||||||
Total Fixed Charges | $ | 759 | $ | 840 | $ | 714 | $ | 626 | $ | 546 | |||||||||
Ratio of Earnings to Fixed Charges (2) | — | 5.41 | 41.25 | 56.17 | 83.19 | ||||||||||||||
___________________ | |||||||||||||||||||
(1) | Calculated as one-third of rentals. Considered a reasonable approximation of interest factor. |
(2) | The ratio coverage through September 30, 2016 was less than 1. Additional earnings of $3.7 billion would have been required to achieve a coverage of 1. |
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