Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NEWFIELD EXPLORATION CO /DE/ | d370104d8k.htm |
| EX-1.1 - UNDERWRITING AGREEMENT, DATED AS OF JUNE 19, 2012 - NEWFIELD EXPLORATION CO /DE/ | d370104dex11.htm |
| EX-1.2 - PRICING AGREEMENT, DATED AS OF JUNE 19, 2012 - NEWFIELD EXPLORATION CO /DE/ | d370104dex12.htm |
Exhibit 12.1
Newfield Exploration Company
Computation of Ratios of Earnings (Loss) to Fixed Charges and Earnings (Loss) to Fixed Charges Plus Preferred Dividends
| For the Three | ||||||||||||||||||||||||||||
| Months Ended | Year Ended December 31, | |||||||||||||||||||||||||||
| March 31, 2012 | March 31, 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
| Earnings: |
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| Pre-tax income (loss) from continuing operations |
$ | 187 | $ | (27 | ) | $ | 840 | $ | 829 | $ | (885 | ) | $ | (535 | ) | $ | 294 | |||||||||||
| Fixed Charges: |
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| Interest expense, including debt issue amortization |
33 | 22 | 93 | 98 | 75 | 52 | 55 | |||||||||||||||||||||
| Capitalized interest |
18 | 18 | 82 | 58 | 51 | 60 | 47 | |||||||||||||||||||||
| Interest portion of rent expense |
1 | 1 | 5 | 4 | 3 | 3 | 2 | |||||||||||||||||||||
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| Total fixed charges before preferred dividend requirements |
52 | 41 | 180 | 160 | 129 | 115 | 104 | |||||||||||||||||||||
| Preferred dividend requirements |
— | — | — | — | — | — | — | |||||||||||||||||||||
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| Total fixed charges and preferred dividend requirements |
$ | 52 | $ | 41 | $ | 180 | $ | 160 | $ | 129 | $ | 115 | $ | 104 | ||||||||||||||
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| Earnings (loss) before fixed charges (excludes capitalized interest) and preferred dividends |
$ | 221 | $ | (4 | ) | $ | 938 | $ | 931 | $ | (807 | ) | $ | (480 | ) | $ | 351 | |||||||||||
| Earnings (loss) before fixed charges (excludes capitalized interest) |
$ | 221 | $ | (4 | ) | $ | 938 | $ | 931 | $ | (807 | ) | $ | (480 | ) | $ | 351 | |||||||||||
| Ratio of earnings (loss) to fixed charges |
4.2 | x | — | (2) | 5.2 | x | 5.8 | x | — | (1) | — | (1) | 3.4 | x | ||||||||||||||
| Ratio of earnings (loss) to fixed charges plus preferred dividends |
4.2 | x | — | (2) | 5.2 | x | 5.8 | x | — | (1) | — | (1) | 3.4 | x | ||||||||||||||
| (1) | Earnings for 2008 and 2009 were insufficient to cover fixed charges by $595 million and $936 million, respectively, due to non-cash charges of $1.9 billion and $1.3 billion, respectively, associated with ceiling test writedowns in the respective periods. |
| (2) | Earnings for the first quarter of 2011 were insufficient to cover fixed charges by $45 million due to non-cash commodity hedging losses of $237 million. |