Exhibit 12.2
PETROLEOS MEXICANOS SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(In thousands of Mexican pesos)
June 2013 | June 2014 | |||||||
IFRS | ||||||||
Fixed Charges(1): | ||||||||
Interest capitalized in fixed assets | 1,265,203 | 1,837,792 | ||||||
Interest expense | 29,279,244 | 27,170,589 | ||||||
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Total interest cost | 30,544,447 | 29,008,381 | ||||||
Total Fixed Charges | 30,544,447 | 29,008,381 | ||||||
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Net income | (53,384,961 | ) | (88,248,884 | ) | ||||
Hydrocarbon Income Tax (IRP) | 1,984,030 | 4,983,891 | ||||||
Income tax and others | 2,916,891 | 1,384,177 | ||||||
Cumulative effect of adoption of new accounting standards | — | — | ||||||
Profit sharing in subsidiaries and affiliates (income from equity investees) | 107,494 | (1,827,243 | ) | |||||
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Pretax income from continuing operations before income from equity investees | (48,376,547 | ) | (83,708,060 | ) | ||||
Fixed Charges(1): | 30,544,447 | 29,008,381 | ||||||
Amortization of interest capitalized | 50,608 | 73,512 | ||||||
Distributed income of investments shares | — | — | ||||||
Interest capitalized in fixed assets | 1,265,203 | 1,837,792 | ||||||
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Earnings | (16,516,289 | ) | (52,788,375 | ) | ||||
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Amount by which fixed charges exceed earnings | 47,060,736 | 81,796,756 | ||||||
Ratio of earnings to fixed charges | (0.5407 | ) | (1.8198 | ) |
(1) | These figures do not include rental expense. |