diff --git a/lib/converter.js b/lib/converter.js
index ae7ddf9..4418d30 100644
--- a/lib/converter.js
+++ b/lib/converter.js
@@ -55,9 +55,6 @@ function converter(options) {
       testCase = newTest('Default');
     }
 
-    if(!assert.ok) {
-        exitCode = 1;
-    }
     testCase.asserts.push(assert);
   });
 
@@ -95,6 +92,9 @@ function converter(options) {
     testSuites.forEach(function(suite) {
       suite.asserts.forEach(function(a) {
         a.skip = a.skip || a.todo;
+        if (!a.ok && !a.skip) {
+          exitCode = 1;
+        }
       });
     });
 
diff --git a/package.json b/package.json
index b7b41f0..0bed99a 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "tap-xunit",
-  "version": "1.6.0",
+  "version": "1.7.0",
   "description": "TAP to xUnit XML converter.",
   "main": "lib/converter.js",
   "bin": {
diff --git a/test/expected/pass/only-skip-todo-failures b/test/expected/pass/only-skip-todo-failures
new file mode 100644
index 0000000..d543c9e
--- /dev/null
+++ b/test/expected/pass/only-skip-todo-failures
@@ -0,0 +1,12 @@
+<?xml version="1.0"?>
+<testsuites>
+  <testsuite name="passing-with-skip-todo" tests="3" failures="0" skipped="2" errors="0">
+    <testcase name="#1 passing"/>
+    <testcase name="#2 failing but skipped">
+      <skipped/>
+    </testcase>
+    <testcase name="#3 failing but todo">
+      <skipped/>
+    </testcase>
+  </testsuite>
+</testsuites>
\ No newline at end of file
diff --git a/test/input/pass/only-skip-todo-failures b/test/input/pass/only-skip-todo-failures
new file mode 100644
index 0000000..a10a363
--- /dev/null
+++ b/test/input/pass/only-skip-todo-failures
@@ -0,0 +1,22 @@
+TAP version 13
+# passing-with-skip-todo
+ok 1 passing
+not ok 2 failing but skipped # SKIP
+  ---
+    operator: ok
+    expected: true
+    actual:   false
+    at: Test.<anonymous> (/Users/aghassemi/github/tape/test.js:6:5)
+  ...
+not ok 3 failing but todo # TODO
+  ---
+    operator: ok
+    expected: true
+    actual:   false
+    at: Test.<anonymous> (/Users/aghassemi/github/tape/test.js:7:5)
+  ...
+
+1..3
+# tests 3
+# pass  1
+# fail  2