EX-12 2 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,

 
     2007

    2006

    2005

    2004

    2003

 
           (millions of dollars)  

Income from continuing operations

   $ 40,610     $ 39,500     $ 36,130     $ 25,330     $ 20,960  

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

     (537 )     (411 )     (513 )     (475 )     (205 )

Provision for income taxes(1)

     31,065       28,795       24,885       16,644       11,734  

Capitalized interest

     (182 )     (162 )     (89 )     (180 )     (180 )

Minority interests in earnings of consolidated subsidiaries

     1,005       1,051       795       773       692  
    


 


 


 


 


       71,961       68,773       61,208       42,092       33,001  
    


 


 


 


 


Fixed Charges:(1)

                                        

Interest expense—borrowings

     179       184       200       182       182  

Capitalized interest

     558       532       443       515       497  

Rental expense representative of interest factor

     735       801       593       498       424  

Dividends on preferred stock

                 7       5       3  
    


 


 


 


 


       1,472       1,517       1,243       1,200       1,106  
    


 


 


 


 


Total adjusted earnings available for payment of fixed charges

   $ 73,433     $ 70,290     $ 62,451     $ 43,292     $ 34,107  
    


 


 


 


 


Number of times fixed charges are earned

     49.9       46.3       50.2       36.1       30.8  

 


 

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.