Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - Phillips 66 | psx-2017930_ex32.htm |
| EX-31.2 - EXHIBIT 31.2 - Phillips 66 | psx-2017930_ex312.htm |
| EX-31.1 - EXHIBIT 31.1 - Phillips 66 | psx-2017930_ex311.htm |
| 10-Q - 10-Q - Phillips 66 | psx-2017930_10q.htm |
Exhibit 12
PHILLIPS 66 AND CONSOLIDATED SUBSIDIARIES
TOTAL ENTERPRISE
Computation of Ratio of Earnings to Fixed Charges
Millions of Dollars | ||||||||||||||||||
Nine Months Ended September 30 | Years Ended December 31 | |||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||
Earnings Available for Fixed Charges | ||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests that have not incurred fixed charges | $ | 2,901 | 2,181 | 6,035 | 5,711 | 5,509 | 6,624 | |||||||||||
Distributions in excess of (less than) equity in earnings of affiliates | (543 | ) | (815 | ) | 185 | 197 | (354 | ) | (872 | ) | ||||||||
Fixed charges, excluding capitalized interest* | 438 | 488 | 456 | 397 | 365 | 376 | ||||||||||||
$ | 2,796 | 1,854 | 6,676 | 6,305 | 5,520 | 6,128 | ||||||||||||
Fixed Charges | ||||||||||||||||||
Interest and expense on indebtedness, excluding capitalized interest | $ | 324 | 338 | 310 | 267 | 275 | 246 | |||||||||||
Capitalized interest | 15 | 81 | 106 | 20 | — | — | ||||||||||||
Interest portion of rental expense | 105 | 140 | 140 | 125 | 83 | 121 | ||||||||||||
$ | 444 | 559 | 556 | 412 | 358 | 367 | ||||||||||||
Ratio of Earnings to Fixed Charges | 6.3 | 3.3 | 12.0 | 15.3 | 15.4 | 16.7 | ||||||||||||
* Includes amortization of capitalized interest totaling approximately $9 million for the nine months ended September 30, 2017. Amortization of capitalized interest for the years ended December 31, totaled approximately $10 million in 2016, $7 million in 2015, $6 million in 2014, $7 million in 2013 and $9 million in 2012.