EX-12.2 15 d758803dex122.htm EX-12.2 EX-12.2

Exhibit 12.2

PETROLEOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES

Computation of ratio of earnings to fixed charges

(In thousands of Mexican pesos)

 

     June
2013		     June
2014		  

IFRS

     

Fixed Charges(1):

     

Interest capitalized in fixed assets

      1,265,203        1,837,792   

Interest expense

      29,279,244        27,170,589   
  

 

 

    

 

 

  

Total interest cost

      30,544,447        29,008,381   

Total Fixed Charges

      30,544,447        29,008,381   
  

 

 

    

 

 

  

Net income

      (53,384,961 )      (88,248,884 ) 

Hydrocarbon Income Tax (IRP)

      1,984,030        4,983,891   

Income tax and others

      2,916,891        1,384,177   

Cumulative effect of adoption of new accounting standards

      —          —     

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

      107,494        (1,827,243 ) 
  

 

 

    

 

 

  

Pretax income from continuing operations before income from equity investees

      (48,376,547 )      (83,708,060 ) 

Fixed Charges(1):

      30,544,447        29,008,381   

Amortization of interest capitalized

      50,608        73,512   

Distributed income of investments shares

      —          —     

Interest capitalized in fixed assets

      1,265,203        1,837,792   
  

 

 

    

 

 

  

Earnings

      (16,516,289 )      (52,788,375 ) 
  

 

 

    

 

 

  

Amount by which fixed charges exceed earnings

      47,060,736        81,796,756   

Ratio of earnings to fixed charges

      (0.5407 )      (1.8198 ) 

 

(1) These figures do not include rental expense.