EXHIBIT 12
EXXON MOBIL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Years Ended December 31, |
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| 2004 |
2003 |
2002 |
2001 |
2000 |
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| (millions of dollars) | ||||||||||||||||||||
| Income from continuing operations |
$ | 25,330 | $ | 20,960 | $ | 11,011 | $ | 15,003 | $ | 15,806 | ||||||||||
| Excess/(shortfall) of dividends over earnings of affiliates owned less than 50 percent accounted for by the equity method |
(475 | ) | (205 | ) | (140 | ) | (108 | ) | (354 | ) | ||||||||||
| Provision for income taxes(1) |
16,644 | 11,734 | 7,073 | 9,599 | 11,614 | |||||||||||||||
| Capitalized interest |
(180 | ) | (180 | ) | (143 | ) | (255 | ) | (409 | ) | ||||||||||
| Minority interests in earnings of consolidated subsidiaries |
773 | 692 | 206 | 556 | 346 | |||||||||||||||
| 42,092 | 33,001 | 18,007 | 24,795 | 27,003 | ||||||||||||||||
| Fixed Charges:(1) |
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| Interest expense—borrowings |
182 | 182 | 368 | 328 | 637 | |||||||||||||||
| Capitalized interest |
515 | 497 | 442 | 529 | 653 | |||||||||||||||
| Rental expense representative of interest factor |
498 | 424 | 587 | 621 | 551 | |||||||||||||||
| Dividends on preferred stock |
5 | 3 | 5 | 8 | 12 | |||||||||||||||
| 1,200 | 1,106 | 1,402 | 1,486 | 1,853 | ||||||||||||||||
| Total adjusted earnings available for payment of fixed charges |
$ | 43,292 | $ | 34,107 | $ | 19,409 | $ | 26,281 | $ | 28,856 | ||||||||||
| Number of times fixed charges are earned |
36.1 | 30.8 | 13.8 | 17.7 | 15.6 | |||||||||||||||
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. |