EX-99.4 5 y03165exv99w4.htm EX-99.4:COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES exv99w4
Exhibit 99.4
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                         
    Nine Months        
    Ended September 30,     Years Ended December 31,  
(Amounts in millions of euros)   2009     2008     2008     2007     2006     2005(a)     2004(a)  
    (unaudited)     (unaudited)  
Net income
    6,382       11,384       10,590       13,181       11,773       12,734       11,572  
Income tax expenses
    5,706       13,186       14,146       13,575       13,720       11,806       8,603  
Minority interest
    140       345       363       354       367       370       275  
Equity in income of affiliates (in excess of)/ less than dividends received
    (230 )     (574 )     (311 )     (821 )     (952 )     (596 )     (583 )
Interest expensed
    353       547       779       1,547       1,588       1,211       747  
Estimate of the interest within rental expense
    107       107       142       128       91       68       54  
Amortization of capitalized interest
    95       80       115       108       100       100       100  
 
                                         
Total
    12,553       25,075       25,824       28,072       26,687       25,693       20,768  
 
                                         
Interest expensed
    353       547       779       1,547       1,588       1,211       747  
Capitalized interest
    106       226       317       321       237       101       34  
Estimate of the interest within rental expense
    107       107       142       128       91       68       54  
Preference security dividend requirements of consolidated subsidiaries
                                  1       6  
 
                                             
Fixed charges
    566       880       1,238       1,996       1,916       1,381       841  
 
                                         
Ratio of Earnings to fixed charges
    22.18       28.49       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).