EX-12 7 y01956exv12.htm EX-12: CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES EX-12
Ratio Based on IFRS
(Amounts in $ millions except ratios)
         
Exhibit 12
                                 
    Years ended December 31,  
    2007     2006     2005     2004  
Earnings
                                
Consolidated net income
   $ 11,850     $ 6,086     $ 3,795     $ 5,625  
Income allocable to minority interest in consolidated entities that incurred fixed charges
     (1,482 )     (860 )     (494 )     (415 )
Consolidated provision for income taxes
     3,038       1,109       881       967  
Fixed charges less interest capitalized
     1,858       1,134       513       267  
 
                        
Subtotal
     15,264       7,469       4,695       6,444  
Undistributed earnings of less-than-50% owned affiliates
     (19 )     (127 )     (73 )     (165 )
 
                        
Total earnings
     15,245       7,342       4,622       6,279  
 
                        
Fixed charges
                                
Interest expensed and capitalized
     1,839       1,124       503       259  
Interest portion of rental obligations
     19       10       10       8  
 
                        
Total fixed charges
     1,858       1,134       513       267  
 
                        
Ratio of Earnings to Fixed Charges
     8.2 x     6.5 x     9.0 x     23.5 x