EX-12 3 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,

 
     2008

    2007

    2006

    2005

    2004

 
     (millions of dollars)  

Income from continuing operations

   $45,220     $ 40,610     $ 39,500     $ 36,130     $ 25,330  

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

   208       (537 )     (411 )     (513 )     (475 )

Provision for income taxes(1)

   38,442       31,065       28,795       24,885       16,644  

Capitalized interest

   (123 )     (182 )     (162 )     (89 )     (180 )

Minority interests in earnings of consolidated subsidiaries

   1,647       1,005       1,051       795       773  
    

 


 


 


 


     85,394       71,961       68,773       61,208       42,092  
    

 


 


 


 


Fixed Charges:(1)

                                      

Interest expense—borrowings

   243       179       184       200       182  

Capitalized interest

   515       558       532       443       515  

Rental expense representative of interest factor

   910       735       801       593       498  

Dividends on preferred stock

   —         —         —         7       5  
    

 


 


 


 


     1,668       1,472       1,517       1,243       1,200  
    

 


 


 


 


Total adjusted earnings available for payment of fixed charges

   $87,062     $ 73,433     $ 70,290     $ 62,451     $ 43,292  
    

 


 


 


 


Number of times fixed charges are earned

   52.2       49.9       46.3       50.2       36.1  

 


 

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.