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Content analysis
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Exhibit 7.1
PETRÓLEOS MEXICANOS, SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(In thousands of Mexican pesos)
2014 | 2013 | 2012 | 2011 | |||||||||||||
IFRS | ||||||||||||||||
Fixed Charges: | ||||||||||||||||
Interest capitalized in fixed assets | 3,997,121 | 2,943,597 | 2,110,075 | 4,292,351 | ||||||||||||
Interest expense | 73,657,618 | 54,067,022 | 72,951,202 | 63,003,854 | ||||||||||||
Amortization premiums related to indebtedness | 312,296 | (1,890,710 | ) | 1,560,478 | 762,387 | |||||||||||
Estimate of the interest within rental expense | 242,436 | 159,380 | 214,041 | 212,497 | ||||||||||||
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Total Fixed Charges | 78,209,471 | 55,279,289 | 76,835,796 | 68,271,089 | ||||||||||||
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Net income (loss) | (265,542,989 | ) | (170,058,427 | ) | 2,600,478 | (106,942,256 | ) | |||||||||
Hydrocarbon Income Tax (IRP) | (18,735,301 | ) | 3,787,543 | 2,392,919 | (677,392 | ) | ||||||||||
Income Tax and Others | 3,773,966 | 3,672,466 | 2,138,856 | 3,853,408 | ||||||||||||
Cumulative effect of adoption of new accounting standards | — | — | — | — | ||||||||||||
Profit sharing in subsidiaries and affiliates (income from equity investees) | (34,368 | ) | (706,710 | ) | (4,797,607 | ) | 810,752 | |||||||||
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Pretax income from continuing operations before income from equity investees | (280,538,692 | ) | (163,305,128 | ) | 2,334,646 | (102,955,488 | ) | |||||||||
Fixed Charges: | 78,209,471 | 55,279,289 | 76,835,796 | 68,271,089 | ||||||||||||
Amortization of interest capitalized | 159,885 | 117,744 | 84,403 | 171,694 | ||||||||||||
Distributed income of investments shares | 736,302 | 914,116 | 685,704 | 599,907 | ||||||||||||
Interest capitalized in fixed assets | (3,997,121 | ) | (2,943,597 | ) | (2,110,075 | ) | (4,292,351 | ) | ||||||||
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Earnings | (205,430,155 | ) | (109,937,576 | ) | 77,830,474 | (38,205,149 | ) | |||||||||
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Amount by which fixed charges exceed earnings | 283,639,626 | 165,216,865 | — | 106,476,238 | ||||||||||||
Ratio of earnings to fixed charges | — | — | 1.01 | — |