EXHIBIT 12
EXXON MOBIL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
(millions of dollars) | ||||||||||||||||||||
Income from continuing operations | $ | 39,500 | $ | 36,130 | $ | 25,330 | $ | 20,960 | $ | 11,011 | ||||||||||
Excess/(shortfall) of dividends over earnings of affiliates owned less than 50 percent accounted for by the equity method | (411 | ) | (513 | ) | (475 | ) | (205 | ) | (140 | ) | ||||||||||
Provision for income taxes(1) | 28,795 | 24,885 | 16,644 | 11,734 | 7,073 | |||||||||||||||
Capitalized interest | (162 | ) | (89 | ) | (180 | ) | (180 | ) | (143 | ) | ||||||||||
Minority interests in earnings of consolidated subsidiaries | 1,051 | 795 | 773 | 692 | 206 | |||||||||||||||
68,773 | 61,208 | 42,092 | 33,001 | 18,007 | ||||||||||||||||
Fixed Charges:(1) | ||||||||||||||||||||
Interest expense—borrowings | 184 | 200 | 182 | 182 | 368 | |||||||||||||||
Capitalized interest | 532 | 443 | 515 | 497 | 442 | |||||||||||||||
Rental expense representative of interest factor | 801 | 593 | 498 | 424 | 587 | |||||||||||||||
Dividends on preferred stock | — | 7 | 5 | 3 | 5 | |||||||||||||||
1,517 | 1,243 | 1,200 | 1,106 | 1,402 | ||||||||||||||||
Total adjusted earnings available for payment of fixed charges | $ | 70,290 | $ | 62,451 | $ | 43,292 | $ | 34,107 | $ | 19,409 | ||||||||||
Number of times fixed charges are earned | 46.3 | 50.2 | 36.1 | 30.8 | 13.8 |
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. |