EX-12.2 9 d373975dex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AS OF MARCH 31, 2012. Computation of Ratio of Earnings to Fixed Charges as of March 31, 2012.

Exhibit 12.2

PETROLEOS MEXICANOS’ SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES

Computation of ratio of earnings to fixed charges

(In Thousands of Mexican pesos)

 

     For the period ended  
     March 31,
2012		     March 31,
2011		  

IFRS

     

Fixed Charges(1):

     

Interest capitalized during the period

      759,634        545,197   

Interest expense

      14,190,860        11,909,202   
  

 

 

    

 

 

  

Total interest cost

      14,950,494        12,454,400   

Total Fixed Charges

     14,950,494        12,454,400   
  

 

 

    

 

 

  

Net income

      33,881,143        1,537,663   

Hydrocarbon Income Tax (IRP)

      1,795,817        3,725,129   

Income Tax and Others

      845,435        323,132   

Cumulative effect of adoption of new accounting standards

      —          —     

Profit sharing in subsidiaries and affiliates (income from equity investees)

      158,695        303,236   
  

 

 

    

 

 

  

Pretax income from continuing operations before income from equity investees

     36,681,090        5,889,161   

Fixed Charges(1)

      14,950,494        12,454,400   

Amortization of interest capitalized

      30,385        21,808   

Dividends received on investments in shares

      —          —     

Interest capitalized during the period

      (759,634 )      (545,197 ) 
  

 

 

    

 

 

  

Earnings

     50,902,335        17,820,172   
  

 

 

    

 

 

  

Amount by which fixed charges exceed earnings

     (35,951,841 )      (5,365,772 ) 

Ratio of earnings to fixed charges

     3.4047        1.4308   

 

(1) 

These figures do not include rental expense.