EX-12 2 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,


 
     2006

    2005

    2004

    2003

    2002

 
    

(millions of dollars)

 

Income from continuing operations

   $ 39,500     $ 36,130     $ 25,330     $ 20,960     $ 11,011  

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

     (411 )     (513 )     (475 )     (205 )     (140 )

Provision for income taxes(1)

     28,795       24,885       16,644       11,734       7,073  

Capitalized interest

     (162 )     (89 )     (180 )     (180 )     (143 )

Minority interests in earnings of consolidated subsidiaries

     1,051       795       773       692       206  
    


 


 


 


 


       68,773       61,208       42,092       33,001       18,007  
    


 


 


 


 


Fixed Charges:(1)

                                        

Interest expense—borrowings

     184       200       182       182       368  

Capitalized interest

     532       443       515       497       442  

Rental expense representative of interest factor

     801       593       498       424       587  

Dividends on preferred stock

           7       5       3       5  
    


 


 


 


 


       1,517       1,243       1,200       1,106       1,402  
    


 


 


 


 


Total adjusted earnings available for payment of fixed charges

   $ 70,290     $ 62,451     $ 43,292     $ 34,107     $ 19,409  
    


 


 


 


 


Number of times fixed charges are earned

     46.3       50.2       36.1       30.8       13.8  

 


 

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.