EXHIBIT 12

 

EXXON MOBIL CORPORATION

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Years Ended December 31,

 
     2004

    2003

    2002

    2001

    2000

 
     (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)

                                        

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.