Attached files
| file | filename |
|---|---|
| EX-21 - EXHIBIT 21 LIST OF SUBSIDIARIES - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex2112312014.htm |
| EX-23.2 - EXHIBIT 23.2 CONSENT OF INDEPENDENT PETROLEUM ENGINEERS - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex23210k12312014.htm |
| EX-23.1 - EXHIBIT 23.1 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex23110k12312014.htm |
| EX-31.2 - EXHIBIT 31.2 CERTIFICATION OF CFO - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex31210k12312014.htm |
| EX-99.1 - EXHIBIT 99.1 - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex99110k12312014.htm |
| EX-10.73 - EXHIBIT 10.73 - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex10110k12312014.htm |
| EX-31.1 - EXHIBIT 31.1 CERTIFICATION OF CEO - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex31110k12312014.htm |
| EX-32.1 - EXHIBIT 32.1 CERITIFICATOINS OF CEO AND CFO - OCCIDENTAL PETROLEUM CORP /DE/ | oxyex32110k12312014.htm |
| EXCEL - IDEA: XBRL DOCUMENT - OCCIDENTAL PETROLEUM CORP /DE/ | Financial_Report.xls |
| 10-K - 10-K - OCCIDENTAL PETROLEUM CORP /DE/ | oxy10k12-31x2014.htm |
EXHIBIT 12 | |
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES | |
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES | |
(Amounts in millions, except ratios) | |
For the years ended December 31, | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Income from continuing operations (a) | $ | (130 | ) | $ | 4,932 | $ | 3,829 | $ | 5,527 | $ | 3,851 | |||||||||
Subtract: | ||||||||||||||||||||
Net income attributable to noncontrolling interest | (14 | ) | — | — | — | (72 | ) | |||||||||||||
Adjusted income from equity investments (b) | 64 | 52 | 163 | (33 | ) | (60 | ) | |||||||||||||
(80 | ) | 4,984 | 3,992 | 5,494 | 3,719 | |||||||||||||||
Add: | ||||||||||||||||||||
Provision for taxes on income (other than foreign oil and gas taxes) | (280 | ) | 1,353 | 249 | 1,167 | 671 | ||||||||||||||
Interest and debt expense | 77 | 132 | 149 | 313 | (c) | 133 | ||||||||||||||
Portion of lease rentals representative of the interest factor | 52 | 60 | 58 | 57 | 55 | |||||||||||||||
(151 | ) | 1,545 | 456 | 1,537 | 859 | |||||||||||||||
Earnings before fixed charges | $ | (231 | ) | $ | 6,529 | $ | 4,448 | $ | 7,031 | $ | 4,578 | |||||||||
Fixed charges: | ||||||||||||||||||||
Interest and debt expense including capitalized interest | $ | 257 | $ | 269 | $ | 254 | $ | 384 | (c) | $ | 204 | |||||||||
Portion of lease rentals representative of the interest factor | 52 | 60 | 58 | 57 | 55 | |||||||||||||||
Total fixed charges | $ | 309 | $ | 329 | $ | 312 | $ | 441 | $ | 259 | ||||||||||
Ratio of earnings to fixed charges | (0.75 | ) | 19.83 | 14.26 | 15.93 | 17.65 | ||||||||||||||
Insufficient coverage | $ | (540 | ) | (d) | $ | — | $ | — | $ | — | $ | — | ||||||||
Note: Results of California Resources Corporation have been reflected as discontinued operations for all periods presented.
(a) | The 2014 amounts includes a $4.2 billion dollar after-tax impairment charge related to the decline in crude oil market prices, a $338 million after-tax gain for the sale of the Hugoton assets, a $403 million after-tax gain for the sale of the BridgeTex assets, a $861 million after-tax gain for the sale of a portion of an investment in the General Partner of Plains All-American Pipeline L.P., and a $1.2 billion after-tax impairment related to Josyln and mark to market adjustments for Oxy's California Resources investment. The 2013 amount includes a $624 million after-tax gain for the sale of a portion of an investment in the General Partner of Plains All-American Pipeline L.P., a $85 million after-tax gain for the sale of an investment in Carbocloro, a Brazilian chemical facility and $387 million of after-tax charges related to the impairment of non-producing domestic acreage. The 2012 amount includes after-tax charges of $1.1 billion for the impairment of domestic gas assets and related items. |
(b) | Represent adjustments to arrive at distributed income of equity investees. |
(c) | Excludes a pre-tax charge of $163 million for the early redemption of debt. |
(d) | The 2014 ratio of earnings to fixed charges excluding certain items (a) is 11.96 |