Exhibit 99.4

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended March 31,			Years Ended December 31,
(Amounts in millions of euros)	2012	2011		2011		2010		2009		2008		2007
	(unaudited)			(unaudited)
Net income	3,662	3,946		12,276		10,571		8,447		10,590		13,181
Income tax expenses	4,305	4,072		14,073		10,228		7,751		14,146		13,575
Non-controlling interests	12	92		305		236		182		363		354
Equity in income of affiliates (in excess of)/ less than dividends received	34	(182	)	(107	)	(470	)	(378	)	(311	)	(821	)
Interest expensed	161	123		619		416		450		779		1,547
Estimate of the interest within rental expense	54	50		215		202		204		142		128
Amortization of capitalized interest	56	50		201		239		129		115		108

Total	8,284	8,151		27,582		21,422		16,785		25,824		28,072

Interest expensed	161	123		619		416		450		779		1,547
Capitalized interest	60	32		176		118		141		317		321
Estimate of the interest within rental expense	54	50		215		202		204		142		128
Preference security dividend requirements of consolidated subsidiaries	—	—		—		—		—		—		—

Fixed charges	275	205		1,010		736		795		1,238		1,996

Ratio of earnings to fixed charges	30.12	39.76		27.31		29.11		21.11		20.86		14.06