Exhibit 12.2
PETROLEOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(In Thousands of Mexican pesos)
March 2013 | March 2012 | |||||||
IFRS | ||||||||
Fixed Charges(1): | ||||||||
Interest capitalized in fixed assets | 570,814 | 519,600 | ||||||
Interest expense | 17,387,497 | 14,329,387 | ||||||
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Total interest cost | 17,958,311 | 14,848,987 | ||||||
Total Fixed Charges | 17,958,311 | 14,848,987 | ||||||
Net income | (4,388,111 | ) | 40,396,805 | |||||
Hydrocarbon Income Tax (IRP) | 1,323,364 | 1,214,515 | ||||||
Income Tax and Others | 872,114 | 854,512 | ||||||
Cumulative effect of adoption of new accounting standards | 0 | 0 | ||||||
Profit sharing in subsidiaries and affiliates (income from equity investees) | (238,064 | ) | 163,815 | |||||
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Pretax income from continuing operations before income from equity investees | (2,430,697 | ) | 42,629,648 | |||||
Fixed Charges(1): | 17,958,311 | 14,848,987 | ||||||
Amortization of interest capitalized | 22,833 | 20,784 | ||||||
Distributed income of investments shares | — | — | ||||||
Interest capitalized in fixed assets | 570,814 | 519,600 | ||||||
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Earnings | 16,121,261 | 58,019,018 | ||||||
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Amount by which fixed charges exceed earnings | 1,837,050 | — | ||||||
Ratio of earnings to fixed charges | 0.90 | 3.91 |
(1) | These figures do not include rental expense |