EXHIBIT 12
EXXON MOBIL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31,
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2001 2000 1999 1998 1997
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(millions of dollars)
Income before extraordinary item and cumulative
effect of accounting change......................... $15,105 $15,990 $ 7,910 $ 8,144 $11,732
Excess/(shortfall) of dividends over earnings of
affiliates owned less than 50 percent accounted for
by the equity method................................ (108) (354) 300 164 (64)
Provision for income taxes(1)......................... 9,646 11,630 3,632 4,390 8,140
Capitalized interest.................................. (255) (409) (423) (400) (448)
Minority interests in earnings of consolidated
subsidiaries........................................ 556 346 139 261 523
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24,944 27,203 11,558 12,559 19,883
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Fixed Charges:(1)
Interest expense--borrowings......................... 328 637 826 769 811
Capitalized interest................................. 529 653 606 564 595
Rental expense representative of interest factor..... 621 551 617 795 818
Dividends on preferred stock......................... 8 12 8 6 5
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1,486 1,853 2,057 2,134 2,229
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Total adjusted earnings available for payment of fixed
charges............................................. $26,430 $29,056 $13,615 $14,693 $22,112
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Number of times fixed charges are earned.............. 17.8 15.7 6.6 6.9 9.9
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Note:
(1) The provision for income taxes and the fixed charges include Exxon Mobil
Corporation's share of 50 percent owned companies and majority owned
subsidiaries that are not consolidated.
1