EX-99.3 4 a14-11486_1ex99d3.htm 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. and its subsidiaries and affiliates (collectively, “TOTAL” or 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 three months ended March 31, 2014 and 2013.

 

 

 

Three Months Ended
March 31,

 

 

 

2014

 

2013*

 

For the Group (IFRS)

 

22.92

 

17.46

 

 


*       Figures for 2013 have been restated pursuant to the retrospective application of the accounting interpretation IFRIC 21 from January 1, 2014.

 

Earnings for the computations above under IFRS were calculated by adding pre-tax income from continuing operations before adjustment for non-controlling 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.

 

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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 as of March 31, 2014, prepared on the basis of IFRS. Currency amounts are expressed in U.S. dollars (“dollars” or “$”) or in euros (“euros” or “€”).

 

 

 

At March 31,
2014

 

 

 

(in millions of dollars)

 

Current financial debt, including current portion of non-current financial debt

 

 

 

Current portion of non-current financial debt

 

3,772

 

Current financial debt

 

7,904

 

Current portion of financial instruments for interest rate swaps liabilities

 

274

 

Other current financial instruments — liabilities

 

76

 

Financial liabilities directly associated with the assets classified as held for sale

 

0

 

 

 

 

 

Total current financial debt

 

12,026

 

 

 

 

 

Non-current financial debt

 

37,506

 

Non-controlling interests

 

3,248

 

Shareholders’ equity

 

 

 

Common shares

 

7,496

 

Paid-in surplus and retained earnings

 

101,568

 

Currency translation adjustment

 

(1,625

)

Treasury shares

 

(4,303

)

 

 

 

 

Total shareholders’ equity

 

103,136

 

 

 

 

 

Total capitalization and non-current indebtedness

 

143,890

 

 

As of March 31, 2014, TOTAL had an authorized share capital of 3,417,344,607 ordinary shares with a par value of €2.50 per share, and an issued share capital of 2,378,259,685 ordinary shares (including 109,207,673 treasury shares from shareholders’ equity).

 

As of March 31, 2014, approximately $704 million of TOTAL’s non-current financial debt was secured and approximately $36,802 million was unsecured, and all of TOTAL’s current financial debt of $7,904 million was unsecured. As of March 31, 2014, 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 2013 annual report on Form 20-F filed with the Securities and Exchange Commission on March 27, 2014.

 

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TOTAL since March 31, 2014.

 

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