EX-7.1 99 exhibit712017.htm EXHIBIT 7.1 Exhibit


(In $ million)
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
Pre-tax income (loss) from continuing operations
 
521

 
272

 
(294
)
 
(475
)
 
(270
)
Distributed income of equity investees
 

 

 

 
1

 
1

Fixed charges
 
686

 
915

 
1,074

 
1,358

 
1,413

Less:
 
 
 
 
 
 
 
 
 
 
Share of profit of associates and joint ventures, net of income tax
 
3

 
3

 
2

 
2

 
1

Non-controlling interests
 
(2
)
 
(2
)
 
(2
)
 
(2
)
 
(2
)
Interest capitalized
 
(3
)
 
(3
)
 
(5
)
 
(6
)
 
(6
)
Total Earnings
 
1,205

 
1,185

 
775

 
878

 
1,137

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense and capitalized
 
626

 
851

 
1,002

 
1,268

 
1,326

Amortized premiums, discounts and capitalized expenses related to indebtedness
 
17

 
28

 
33

 
44

 
41

Fair value adjustment of acquired notes
 
(1
)
 
(2
)
 
(2
)
 
(2
)
 
(2
)
Estimate of interest in rental expense
 
44

 
38

 
41

 
48

 
48

Total Fixed Charges
 
686

 
915

 
1,074

 
1,358

 
1,413

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
1.8x

 
1.3x

 

 

 

 
 
 
 
 
 
 
 
 
 
 
Additional Pre-tax Earnings to Achieve 1:1 Ratio
 

 

 
299

 
480

 
276