EXHIBIT 12
EXXON MOBIL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31,
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2000 1999 1998 1997 1996
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(millions of dollars)
Income before extraordinary item
and cumulative effect of
accounting change................ $15,990 $ 7,910 $ 8,144 $11,732 $10,474
Excess/(shortfall) of dividends
over earnings of affiliates owned
less than 50 percent accounted
for by the equity method......... (354) 300 164 (64) 186
Provision for income taxes(1)..... 11,630 3,632 4,390 8,140 8,201
Capitalized interest.............. (409) (423) (400) (448) (467)
Minority interests in earnings of
consolidated subsidiaries........ 346 139 261 523 500
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27,203 11,558 12,559 19,883 18,894
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Fixed Charges:(1)
Interest expense--borrowings..... 637 826 769 811 944
Capitalized interest............. 653 606 564 595 598
Rental expense representative of
interest factor................. 551 617 795 818 819
Dividends on preferred stock..... 12 8 6 5 4
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1,853 2,057 2,134 2,229 2,365
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Total adjusted earnings available
for payment of fixed charges..... $29,056 $13,615 $14,693 $22,112 $21,259
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Number of times fixed charges are
earned........................... 15.7 6.6 6.9 9.9 9.0
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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