Exhibit 12.2
PETROLEOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
June | ||||||||
2007 | ||||||||
(in thousands of | ||||||||
Mexican pesos | ||||||||
as of December | June 2008 | |||||||
31, 2007 | (in thousands | |||||||
purchasing | of Mexican | |||||||
power) | pesos) | |||||||
Mexican Financial Reporting Standards | ||||||||
Fixed Charges(1): | ||||||||
Interest capitalized in fixed assets | 4,103,036 | 1,940,302 | ||||||
Interest expense | 27,363,768 | 30,386,481 | ||||||
Total interest cost | 31,466,804 | 32,326,783 | ||||||
Total Fixed Charges | 31,466,804 | 32,326,783 | ||||||
Net income | 21,865,460 | 39,389,131 | ||||||
Hydrocarbon Income Tax (IRP) | 2,541,759 | 1,904,441 | ||||||
Income Tax and Others | 2,537,704 | 4,490,137 | ||||||
Cumulative effect of adoption of new accounting standards | — | — | ||||||
Profit sharing in subsidiaries and affiliates (income from equity investees) | (8,076,723 | ) | (4,356,570 | ) | ||||
Minority Interest | 12,529 | (64,110 | ) | |||||
Pretax income from continuing operations before income from equity investees | 18,880,729 | 41,363,029 | ||||||
Fixed Charges(1): | 31,466,804 | 32,326,783 | ||||||
Amortization of interest capitalized | 164,121 | 77,612 | ||||||
Distribution of income of investment shares | — | — | ||||||
Interest capitalized in fixed assets | (4,103,036 | ) | (1,940,302 | ) | ||||
Earnings | 46,408,618 | 71,827,122 | ||||||
Amount by which fixed charges exceed earnings | (14,941,814 | ) | (39,500,339 | ) | ||||
Ratio of earnings to fixed charges | 1.4748 | 2.2219 |
(1) | These figures do not include rental expense |