EX-7.1 3 d943478dex71.htm EX-7.1 EX-7.1

 

     
 

E1    

 

  

ADDITIONAL INFORMATION

 

    
 

 

EXHIBIT 7.1

    

 

SHELL ANNUAL REPORT AND FORM 20-F 2015

 

EXHIBIT 7.1

 

 

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

     $ MILLION   
      2015        2014        2013        2012        2011   

Pre-tax income from continuing operations before income from equity investees

     (1,480 )      22,198        26,317        41,564        46,806   
Total fixed charges     2,495        2,113        1,710        1,712        1,608   
Distributed income from equity investees     4,627        6,902        7,117        10,573        9,681   
Interest capitalised     (839 )      (757 )      (762 )      (567 )      (674 ) 
Total earnings     4,803        30,456        34,382        53,282        57,421   
Interest expensed and capitalised     1,795        1,522        1,412        1,461        1,209   
Interest within rental expense     700        591        298        251        399   
Total fixed charges     2,495        2,113        1,710        1,712        1,608   
Ratio of earnings to fixed charges     1.93        14.41        20.11        31.12        35.71   

For the purposes of the table above, earnings consist of pre-tax income from continuing operations (before adjustment for non-controlling interest) plus fixed charges (excluding capitalised interest) less undistributed income of joint ventures and associates. Fixed charges consist of expensed and capitalised interest (excluding accretion expense) plus interest within rental expenses (for operating leases).