EX-99.3 4 y03126exv99w3.htm EX-99.3: RATIO OF EARNINGS TO FIXED CHARGES AND CAPITALIZATION AND INDEBTEDNESS EX-99.3
Exhibit 99.3
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
     The following table shows the ratios of earnings to fixed charges for TOTAL S.A. (“TOTAL”) and its subsidiaries and affiliates (collectively, the “Group”), computed in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and as adopted by the European Union, for the six months ended June 30, 2009 and 2008 and the fiscal years ended December 31, 2008, 2007, 2006, 2005 and 2004.
                                                         
    Six Months Ended    
    June 30,   Years Ended December 31,
    2009   2008   2008   2007   2006   2005(a)   2004(a)
For the Group (IFRS)
    21.30       31.04       20.86       14.06       13.93       18.60       24.69  
 
(a)   2004 and 2005 amounts reflect continuing operations (i.e., excluding Arkema, which was spun-off on May 12, 2006).
     Earnings for the computations above under IFRS were calculated by adding pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees, fixed charges and distributed income of equity investees. Fixed charges for the computations above consist of interest (including capitalized interest) on all indebtedness, amortization of debt discount and expense and that portion of rental expense representative of the interest factor.

 


 

CAPITALIZATION AND INDEBTEDNESS OF TOTAL
(Unaudited)
     The following table sets out the unaudited consolidated capitalization and long-term indebtedness, as well as short-term indebtedness, of the Group at June 30, 2009, prepared on the basis of IFRS.
         
    At June 30,
    2009
    (in millions of euros)
Current financial debt, including current portion of non-current financial debt
       
Current portion of non-current financial debt
    1,668  
Current financial debt
    6,248  
Current portion of financial instruments for interest rate swaps liabilities
     
Other current financial instruments — liabilities
    94  
 
       
Total current financial debt
    8,010  
 
       
Non-current financial debt
    19,640  
Minority interests
    963  
Shareholders’ equity
       
Common shares
    5,931  
Paid-in surplus and retained earnings
    55,031  
Currency translation adjustment
    (4,656 )
Treasury shares
    (5,007 )
 
       
Total shareholders’ equity
    51,299  
 
       
Total capitalization and non-current indebtedness
    71,902  
 
       
     As of July 31, 2009, TOTAL had an authorized share capital of 3,387,833,625 ordinary shares with a par value of 2.50 per share, and an issued share capital of 2,347,601,812 ordinary shares (including 115,907,896 treasury shares from shareholders’ equity).
     As of June 30, 2009, approximately 734 M of TOTAL’s non-current financial debt was secured and approximately 18,906 M was unsecured, and all of TOTAL’s current financial debt of 6,248 M was unsecured. As of June 30, 2009, TOTAL had no outstanding guarantees from third parties relating to its consolidated indebtedness. For more information about TOTAL’s commitments and contingencies, see Note 23 of the Notes to TOTAL’s audited consolidated financial statements in its Annual Report on Form 20-F for the year ended December 31, 2008.
     Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TOTAL since June 30, 2009.