Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
                                         
    Millions of Dollars  
    Years Ended December 31  
    2008     2007     2006     2005     2004  
Earnings Available for Fixed Charges
                                        
Income from continuing operations before income taxes and minority interest
   $ (3,565 )     23,310       28,371       23,547       14,369  
Distributions less than equity in earnings of fifty-percent-or-less-owned companies
     5,790       (1,839 )     (962 )     (1,785 )     (780 )
Fixed charges, excluding capitalized interest*
     1,288       1,680       1,410       747       758  
 
                              
 
   $ 3,513       23,151       28,819       22,509       14,347  
 
                              
 
                                        
Fixed Charges
                                        
Interest and expense on indebtedness, excluding capitalized interest
   $ 935       1,253       1,087       497       546  
Capitalized interest
     568       565       458       395       430  
Preferred dividend requirements of subsidiary and capital trusts
     —       —       —       —       —  
Interest portion of rental expense
     207       171       232       188       174  
Interest expense relating to guaranteed debt of fifty-percent-or-less-owned companies
     3       19       —       —       9  
Interest expense relating to guaranteed debt of greater than fifty-percent-owned companies
     —       —       —       —       —  
 
                              
 
   $ 1,713       2,008       1,777       1,080       1,159  
 
                              
Ratio of Earnings to Fixed Charges
     2.1       11.5       16.2       20.8       12.4  
     
*   Includes amortization of capitalized interest totaling approximately $143 million in 2008, $237 million in 2007, $92 million in 2006, $62 million in 2005, and $28 million in 2004.
Earnings available for fixed charges include, if any, the company’s equity in losses of companies owned less than fifty percent and having debt for which the company is contingently liable. Fixed charges include the company’s proportionate share, if any, of interest relating to the contingent debt.
Earnings available for fixed charges include, if any, 100 percent of the losses of companies owned greater than fifty percent that have debt for which the company is contingently liable. Fixed charges include 100 percent of interest and capitalized interest, if any, relating to the contingent debt.