Exhibit 12
CONOCOPHILLIPS AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
| Millions of Dollars | ||||||||
| Three Months Ended March 31 |
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| 2017 | 2016 | |||||||
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|
|
|||||||
| Earnings Available for Fixed Charges |
||||||||
| Loss before income taxes and noncontrolling interests that have not incurred fixed charges |
$ | (245 | ) | (2,237 | ) | |||
| Distributions greater (less) than equity in earnings of affiliates |
(43 | ) | 252 | |||||
| Fixed charges, excluding capitalized interest* |
396 | 340 | ||||||
|
|
||||||||
| $ | 108 | (1,645 | ) | |||||
|
|
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| Fixed Charges |
||||||||
| Interest and debt expense, excluding capitalized interest |
$ | 315 | 281 | |||||
| Capitalized interest |
26 | 40 | ||||||
| Interest portion of rental expense |
32 | 18 | ||||||
|
|
||||||||
| $ | 373 | 339 | ||||||
|
|
||||||||
| Ratio of Earnings to Fixed Charges** |
— | — | ||||||
|
|
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*Includes amortization of capitalized interest totaling approximately $49 million in 2017 and $41 million in 2016.
**Earnings for the three-month periods ended March 31, 2017 and 2016 were inadequate to cover fixed charges by $265 million and $1,984 million, respectively.