EX-12 6 dex12.htm COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES. Computation of ratio earnings to fixed charges.

EXHIBIT 12

 

EXXON MOBIL CORPORATION

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    

Years Ended December 31,

 
    

2002

     

2001

     

2000

     

1999

     

1998

  
    

(millions of dollars)

  

Income from continuing operations

   

$

11,011

 

   

$

15,003

 

   

$

15,806

 

   

$

7,845

 

   

$

8,131

 

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

   

 

(140

)

   

 

(108

)

   

 

(354

)

   

 

300

 

   

 

164

 

Provision for income taxes(1)

   

 

7,073

 

   

 

9,599

 

   

 

11,614

 

   

 

3,617

 

   

 

4,385

 

Capitalized interest

   

 

(143

)

   

 

(255

)

   

 

(409

)

   

 

(423

)

   

 

(400

)

Minority interests in earnings of consolidated subsidiaries

   

 

206

 

   

 

556

 

   

 

346

 

   

 

139

 

   

 

261

 

    
  
  
  
  
    

 

18,007

 

   

 

24,795

 

   

 

27,003

 

   

 

11,478

 

   

 

12,541

 

    
  
  
  
  

Fixed Charges:(1)

                                             

Interest expense—borrowings

   

 

368

 

   

 

328

 

   

 

637

 

   

 

826

 

   

 

769

 

Capitalized interest

   

 

442

 

   

 

529

 

   

 

653

 

   

 

606

 

   

 

564

 

Rental expense representative of interest factor

   

 

587

 

   

 

621

 

   

 

551

 

   

 

617

 

   

 

795

 

Dividends on preferred stock

   

 

5

 

   

 

8

 

   

 

12

 

   

 

8

 

   

 

6

 

    
  
  
  
  
    

 

1,402

 

   

 

1,486

 

   

 

1,853

 

   

 

2,057

 

   

 

2,134

 

    
  
  
  
  

Total adjusted earnings available for payment of fixed charges

   

$

19,409

 

   

$

26,281

 

   

$

28,856

 

   

$

13,535

 

   

$

14,675

 

    
  
  
  
  

Number of times fixed charges are earned

   

 

13.8

 

   

 

17.7

 

   

 

15.6

 

   

 

6.6

 

   

 

6.9

 

 

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.

 

1