EX-99.4 5 a13-10861_1ex99d4.htm EX-99.4

Exhibit 99.4

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Unaudited)

 

 

 

Three Months
Ended March 31,

 

Years Ended December 31,

 

(Amounts in millions of euros)

 

2013

 

2012

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

 

 

 

 

Net income*

 

1,537

 

3,668

 

10,609

 

12,309

 

10,571

 

8,447

 

10,590

 

Income tax expenses*

 

3,042

 

4,311

 

13,035

 

14,091

 

10,228

 

7,751

 

14,146

 

Non-controlling interests

 

51

 

12

 

147

 

305

 

236

 

182

 

363

 

Equity in income of affiliates (in excess of)/ less than dividends received

 

(353

)

34

 

211

 

(107

)

(470

)

(378

)

(311

)

Interest expensed

 

131

 

161

 

504

 

619

 

416

 

450

 

779

 

Estimate of the interest within rental expense

 

65

 

54

 

260

 

215

 

202

 

204

 

142

 

Amortization of capitalized interest

 

41

 

56

 

177

 

201

 

239

 

129

 

115

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total*

 

4,514

 

8,296

 

24,943

 

27,633

 

21,422

 

16,785

 

25,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed

 

131

 

161

 

504

 

619

 

416

 

450

 

779

 

Capitalized interest

 

57

 

60

 

259

 

176

 

118

 

141

 

317

 

Estimate of the interest within rental expense

 

65

 

54

 

260

 

215

 

202

 

204

 

142

 

Preference security dividend requirements of consolidated subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

253

 

275

 

1,023

 

1,010

 

736

 

795

 

1,238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges*

 

17.84

 

30.17

 

24.38

 

27.36

 

29.11

 

21.11

 

20.86

 

 


*            Figures for 2012 and 2011 have been restated pursuant to the retrospective application of the revised accounting standard IAS 19 from January 1, 2013.