EX-99.4 5 a15-9738_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 dollars)

 

2015

 

2014

 

2014

 

2013

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income(a)(b)

 

2,663

 

3,335

 

4,244

 

11,228

 

13,648

 

17,400

 

14,740

 

Income tax expenses(a)(b)

 

1,482

 

3,597

 

8,614

 

14,767

 

16,747

 

19,614

 

13,583

 

Non-controlling interests

 

(155

)

100

 

6

 

293

 

188

 

424

 

313

 

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

 

(68

)

11

 

29

 

(775

)

272

 

(149

)

(623

)

Interest expensed

 

210

 

142

 

536

 

656

 

649

 

862

 

551

 

Estimate of the interest within rental expense

 

102

 

92

 

406

 

357

 

334

 

299

 

268

 

Amortization of capitalized interest

 

41

 

33

 

160

 

135

 

205

 

280

 

317

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total(a)(b)

 

4,275

 

7,310

 

13,995

 

26,661

 

32,043

 

38,730

 

29,149

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed

 

210

 

142

 

536

 

656

 

649

 

862

 

551

 

Capitalized interest

 

80

 

85

 

341

 

349

 

333

 

245

 

156

 

Estimate of the interest within rental expense

 

102

 

92

 

406

 

357

 

334

 

299

 

268

 

Preference security dividend requirements of consolidated subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

392

 

319

 

1,283

 

1,362

 

1,316

 

1,406

 

975

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges(a)(b)

 

10.91

 

22.92

 

10.91

 

19.57

 

24.35

 

27.55

 

29.90

 

 


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

(b)        Figures for 2012, 2011 and 2010 have been restated pursuant to the retrospective application of the revised accounting standard IAS 19 from January 1, 2013.