EXHIBIT 12

 

EXXON MOBIL CORPORATION

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Years Ended December 31,
  
     2007
     2006
     2005
     2004
     2003
  
           (millions of dollars)  

Income from continuing operations

    $ 40,610     $ 39,500     $ 36,130     $ 25,330     $ 20,960  

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

      (537 )     (411 )     (513 )     (475 )     (205 )

Provision for income taxes(1)

      31,065       28,795       24,885       16,644       11,734  

Capitalized interest

      (182 )     (162 )     (89 )     (180 )     (180 )

Minority interests in earnings of consolidated subsidiaries

      1,005       1,051       795       773       692  
    
 
 
 
 
       71,961       68,773       61,208       42,092       33,001  
    
 
 
 
 

Fixed Charges:(1)

                                         

Interest expense—borrowings

      179       184       200       182       182  

Capitalized interest

      558       532       443       515       497  

Rental expense representative of interest factor

      735       801       593       498       424  

Dividends on preferred stock

      —       —       7       5       3  
    
 
 
 
 
       1,472       1,517       1,243       1,200       1,106  
    
 
 
 
 

Total adjusted earnings available for payment of fixed charges

    $ 73,433     $ 70,290     $ 62,451     $ 43,292     $ 34,107  
    
 
 
 
 

Number of times fixed charges are earned

      49.9       46.3       50.2       36.1       30.8  

 

 

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.