EX-12 9 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,

 
     2004

    2003

    2002

    2001

    2000

 
     (millions of dollars)  

Income from continuing operations

   $ 25,330     $ 20,960     $ 11,011     $ 15,003     $ 15,806  

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

     (475 )     (205 )     (140 )     (108 )     (354 )

Provision for income taxes(1)

     16,644       11,734       7,073       9,599       11,614  

Capitalized interest

     (180 )     (180 )     (143 )     (255 )     (409 )

Minority interests in earnings of consolidated subsidiaries

     773       692       206       556       346  
    


 


 


 


 


       42,092       33,001       18,007       24,795       27,003  
    


 


 


 


 


Fixed Charges:(1)

                                        

Interest expense—borrowings

     182       182       368       328       637  

Capitalized interest

     515       497       442       529       653  

Rental expense representative of interest factor

     498       424       587       621       551  

Dividends on preferred stock

     5       3       5       8       12  
    


 


 


 


 


       1,200       1,106       1,402       1,486       1,853  
    


 


 


 


 


Total adjusted earnings available for payment of fixed charges

   $ 43,292     $ 34,107     $ 19,409     $ 26,281     $ 28,856  
    


 


 


 


 


Number of times fixed charges are earned

     36.1       30.8       13.8       17.7       15.6  

 


 

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.