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