EX-99.4 5 y03126exv99w4.htm EX-99.4: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-99.4
Exhibit 99.4
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                         
    Six Months    
    Ended June 30,   Years Ended December 31,
(Amounts in millions of euros)   2009   2008   2008   2007   2006   2005(a)   2004(a)
    (unaudited)   (unaudited)
Net income
    4,459       8,334       10,590       13,181       11,773       12,734       11,572  
Income tax expenses
    3,779       9,148       14,146       13,575       13,720       11,806       8,603  
Minority interest
    88       244       363       354       367       370       275  
Equity in income of affiliates (in excess of)/ less than dividends received
    2       (198 )     (311 )     (821 )     (952 )     (596 )     (583 )
Interest expensed
    250       352       779       1,547       1,588       1,211       747  
Estimate of the interest within rental expense
    72       71       142       128       91       68       54  
Amortization of capitalized interest
    63       54       115       108       100       100       100  
 
                                                       
Total
    8,713       18,005       25,824       28,072       26,687       25,693       20,768  
 
                                                       
Interest expensed
    250       352       779       1,547       1,588       1,211       747  
Capitalized interest
    87       157       317       321       237       101       34  
Estimate of the interest within rental expense
    72       71       142       128       91       68       54  
Preference security dividend requirements of consolidated subsidiaries
                                  1       6  
 
                                                       
Fixed charges
    409       580       1,238       1,996       1,916       1,381       841  
 
                                                       
Ratio of Earnings to fixed charges
    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).