Exhibit 12.2
PETROLEOS MEXICANOS’ SUBSIDIARY ENTITIES AND SUBSIDIARY COMPANIES
Computation of ratio of earnings to fixed charges
(In Thousands of Mexican pesos)
For the period ended | ||||||||
March 31, 2012 | March 31, 2011 | |||||||
IFRS | ||||||||
Fixed Charges(1): | ||||||||
Interest capitalized during the period | 759,634 | 545,197 | ||||||
Interest expense | 14,190,860 | 11,909,202 | ||||||
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Total interest cost | 14,950,494 | 12,454,400 | ||||||
Total Fixed Charges | 14,950,494 | 12,454,400 | ||||||
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Net income | 33,881,143 | 1,537,663 | ||||||
Hydrocarbon Income Tax (IRP) | 1,795,817 | 3,725,129 | ||||||
Income Tax and Others | 845,435 | 323,132 | ||||||
Cumulative effect of adoption of new accounting standards | — | — | ||||||
Profit sharing in subsidiaries and affiliates (income from equity investees) | 158,695 | 303,236 | ||||||
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Pretax income from continuing operations before income from equity investees | 36,681,090 | 5,889,161 | ||||||
Fixed Charges(1) | 14,950,494 | 12,454,400 | ||||||
Amortization of interest capitalized | 30,385 | 21,808 | ||||||
Dividends received on investments in shares | — | — | ||||||
Interest capitalized during the period | (759,634 | ) | (545,197 | ) | ||||
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Earnings | 50,902,335 | 17,820,172 | ||||||
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Amount by which fixed charges exceed earnings | (35,951,841 | ) | (5,365,772 | ) | ||||
Ratio of earnings to fixed charges | 3.4047 | 1.4308 |
(1) | These figures do not include rental expense. |