Exhibit 12.2
PETRÓELOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(Thousands of constant pesos as of June 30, 2005)
Six Months Ended June 30, | ||||||||
2005 | 2004 | |||||||
U.S. GAAP | ||||||||
Fixed Charges(1) | ||||||||
Interest capitalized in fixed assets | Ps. | 5,763,703 | Ps. | 2,828,122 | ||||
Interest expense | 25,176,975 | 16,034,197 | ||||||
Total interest cost | 30,940,678 | 18,862,319 | ||||||
Total Fixed Charges | 30,940,678 | 18,862,319 | ||||||
Income Earnings after taxes and duties | (10,147,193 | ) | (8,933,331 | ) | ||||
Fixed Charges(1): | ||||||||
Interest cost net of amounts capitalized | 25,176,975 | 16,034,197 | ||||||
Total Fixed Charges (Net of amounts capitalized) | 25,176,975 | 16,034,197 | ||||||
Earnings after taxes and duties plus fixed charges (net of amounts capitalized) | 15,029,782 | 7,100,866 | ||||||
Amount by which fixed charges exceed earnings | Ps. | 15,910,896 | Ps. | 11,761,453 |
(1) | These figures do not include rental expense. |
PETRÓELOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(Thousands of constant pesos as of June 30, 2005)
Six Months Ended June 30, | ||||||||
2005 | 2004 | |||||||
Mexican GAAP | ||||||||
Fixed Charges(1) | ||||||||
Interest capitalized in fixed assets | Ps. | 5,361,068 | Ps. | 2,211,719 | ||||
Interest expense | 26,133,300 | 16,650,600 | ||||||
Total interest cost | 31,494,368 | 18,862,319 | ||||||
Total Fixed Charges | 31,494,368 | 18,862,319 | ||||||
Earnings after IEPS taxes and Hydrocarbon Extraction duties | 7,044,924 | (17,444,180 | ) | |||||
Fixed Charges(1) | ||||||||
Interest cost net of amounts capitalized | 26,133,300 | 16,650,600 | ||||||
Total Fixed Charges (Net of amounts capitalized) | 26,133,300 | 16,650,600 | ||||||
Earnings after taxes and duties plus fixed charges (net of amounts capitalized) | 33,178,224 | (793,580 | ) | |||||
Amount by which fixed charges exceed earnings | Ps. | (1,683,856 | ) | Ps. | 19,655,899 | |||
Ratio of earnings to fixed charges | 1.0535 |
(1) | These figures do not include rental expense. |