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Mexican GAAP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | | | | Year ended Decemer 31 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | June 2002 | June 2001 | December 2001 | ||||||||||||
| | 2000 | 1999 | 1998 | 1997 | |||||||||||
| | (thousands of pesos) | ||||||||||||||
| Mexican GAAP | |||||||||||||||
| Fixed Charges: | |||||||||||||||
| Interest capitalized in fixed assets | 2,645,509 | 2,004,202 | 3,779,541 | 3,913,180 | 5,119,428 | 3,329,393 | 2,282,605 | ||||||||
| Interest in the specific reserve for exploration and depletion | 99,644 | 443,632 | 86,553 | 814,739 | 864,553 | 803,361 | 752,237 | ||||||||
| Interest expense | 9,129,140 | 7,745,562 | 15,832,884 | 15,618,066 | 9,846,918 | 6,568,022 | 4,567,172 | ||||||||
| Total interest cost | 11,874,293 | 10,193,396 | 19,698,978 | 20,345,985 | 15,830,899 | 10,700,776 | 7,602,014 | ||||||||
Total Fixed Charges* | 11,874,293 | 10,193,396 | 19,698,978 | 20,345,985 | 15,830,899 | 10,700,776 | 7,602,014 | ||||||||
| Earnings after IEPS taxes and Hydrocarbon Extraction duties | (6,361,349 | ) | (6,024,918 | ) | (34,090,587 | ) | (19,710,392 | ) | (21,156,771 | ) | (11,587,990 | ) | 7,133,256 | ||
| Fixed Charges: | |||||||||||||||
| Interest cost net of amounts capitalized | 9,129,140 | 7,745,562 | 15,832,884 | 15,618,066 | 9,846,918 | 6,568,022 | 4,567,172 | ||||||||
| Total Fixed Charges (net of amounts capitalized) | 9,129,140 | 7,745,562 | 15,832,884 | 15,618,066 | 9,846,918 | 6,568,022 | 4,567,172 | ||||||||
| Earnings after taxes and duties plus fixed charges (net of amounts capitalized) | 2,767,791 | 1,720,644 | (18,257,703 | ) | (4,092,326 | ) | (11,309,853 | ) | (5,019,968 | ) | 11,700,428 | ||||
| Ratio of earnings to fixed charges | — | — | — | — | — | — | 1.54 | ||||||||
- *
- This figure does not include rental expnese
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | | | | Year ended December 31 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | June 2002 | June 2001 | December 2001 | ||||||||||||
| | 2000 | 1999 | 1998 | 1997 | |||||||||||
| | (thousands of pesos) | | | | | ||||||||||
| U.S. GAAP | |||||||||||||||
| Fixed Charges: | |||||||||||||||
| Interest capitalized in fixed assets | 3,223,160 | 2,309,296 | 5,112,410 | 4,273,611 | 5,713,187 | 4,412,094 | 3,061,280 | ||||||||
| Interest expense | 8,651,133 | 7,884,100 | 14,586,568 | 16,072,374 | 10,117,712 | 6,288,682 | 4,540,734 | ||||||||
| Total interest cost | 11,874,293 | 10,193,396 | 19,698,978 | 20,345,985 | 15,830,899 | 10,700,776 | 7,602,014 | ||||||||
| Total Fixed Charges* | 11,874,293 | 10,193,396 | 19,698,978 | 20,345,985 | 15,830,899 | 10,700,776 | 7,602,014 | ||||||||
| Income Earnings after taxes and duties | (4,799,754 | ) | (1,524,046 | ) | (25,444,111 | ) | (16,696,716 | ) | (15,370,295 | ) | (27,364,258 | ) | 9,176,816 | ||
| Fixed Charges: | |||||||||||||||
| Interest cost net of amounts capitalized | 8,651,133 | 7,884,100 | 14,586,568 | 16,072,374 | 10,117,712 | 6,288,682 | 4,540,734 | ||||||||
| Total Fixed Charges (net of amounts capitalized) | 8,651,133 | 7,884,100 | 14,586,568 | 16,072,374 | 10,117,712 | 6,288,682 | 4,540,734 | ||||||||
| Earnings after taxes and duties plus fixed charges (net of amounts capitalized) | 3,851,379 | 6,360,054 | (10,857,543 | ) | (624,342 | ) | (5,252,583 | ) | (21,075,576 | ) | 13,717,550 | ||||
| Ratio of earnings to fixed charges | — | — | — | — | — | — | 1.80 | ||||||||
- *
- These figures do not include rental expense
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES