EXHIBIT 12

 

EXXON MOBIL CORPORATION

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    

Years Ended December 31,

 
     2006
     2005
     2004
     2003
     2002
  
    

(millions of dollars)

 

Income from continuing operations

    $ 39,500     $ 36,130     $ 25,330     $ 20,960     $ 11,011  

Excess/(shortfall) of dividends over earnings of affiliates owned less than 50 percent accounted for by the equity method

      (411 )     (513 )     (475 )     (205 )     (140 )

Provision for income taxes(1)

      28,795       24,885       16,644       11,734       7,073  

Capitalized interest

      (162 )     (89 )     (180 )     (180 )     (143 )

Minority interests in earnings of consolidated subsidiaries

      1,051       795       773       692       206  
    
 
 
 
 
       68,773       61,208       42,092       33,001       18,007  
    
 
 
 
 

Fixed Charges:(1)

                                         

Interest expense—borrowings

      184       200       182       182       368  

Capitalized interest

      532       443       515       497       442  

Rental expense representative of interest factor

      801       593       498       424       587  

Dividends on preferred stock

      —       7       5       3       5  
    
 
 
 
 
       1,517       1,243       1,200       1,106       1,402  
    
 
 
 
 

Total adjusted earnings available for payment of fixed charges

    $ 70,290     $ 62,451     $ 43,292     $ 34,107     $ 19,409  
    
 
 
 
 

Number of times fixed charges are earned

      46.3       50.2       36.1       30.8       13.8  

 

 

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.