EX-12 4 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of ratio of earnings to fixed charges

EXHIBIT 12

 

EXXON MOBIL CORPORATION

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Years Ended December 31,

 
     2005

    2004

    2003

    2002

    2001

 
     (millions of dollars)  

Income from continuing operations

   $ 36,130     $ 25,330     $ 20,960     $ 11,011     $ 15,003  

Excess/(shortfall) of dividends over earnings of affiliates owned less than 50 percent accounted for by the equity method

     (513 )     (475 )     (205 )     (140 )     (108 )

Provision for income taxes(1)

     24,885       16,644       11,734       7,073       9,599  

Capitalized interest

     (89 )     (180 )     (180 )     (143 )     (255 )

Minority interests in earnings of consolidated subsidiaries

     795       773       692       206       556  
    


 


 


 


 


       61,208       42,092       33,001       18,007       24,795  
    


 


 


 


 


Fixed Charges:(1)

                                        

Interest expense—borrowings

     200       182       182       368       328  

Capitalized interest

     443       515       497       442       529  

Rental expense representative of interest factor

     593       498       424       587       621  

Dividends on preferred stock

     7       5       3       5       8  
    


 


 


 


 


       1,243       1,200       1,106       1,402       1,486  
    


 


 


 


 


Total adjusted earnings available for payment of fixed charges

   $ 62,451     $ 43,292     $ 34,107     $ 19,409     $ 26,281  
    


 


 


 


 


Number of times fixed charges are earned

     50.2       36.1       30.8       13.8       17.7  

 


 

Note:

(1)   The provision for income taxes and the fixed charges include Exxon Mobil Corporation’s share of 50 percent-owned companies and majority-owned subsidiaries that are not consolidated.