EX-12.1 9 y00582exv12w1.txt STATEMENT REGARDING COMPUTATION OF RATIOS . . . Exhibit 12.1 Calculation of Ratio of Earnings to Fixed Charges
(Amounts in millions of euros) FRENCH GAAP BASIS 2002 2001 2000 1999 1998 EARNINGS Net income 5,941 7,658 6,904 1,520 886 Income tax expenses 5,034 5,874 6,322 843 366 Minority interest 13 166 304 45 46 Equity in income of affiliates (in excess of)/less than dividends received (479) (709) (406) 8 (24) Interest expensed 695 1,015 1,181 314 151 Estimate of the interest within rental expense 68 56 44 17 13 Amortization of capitalised interest 116 95 97 45 24 ------ ------ ------ ----- ----- TOTAL 11,388 14,155 14,446 2,792 1,462 ------ ------ ------ ----- ----- FIXED CHARGES Interest expensed 695 1,015 1,181 314 151 Capitalized interest 89 259 274 87 84 Estimate of the interest within rental expense 68 56 44 17 13 Preference security dividend requirements of consolidated subsidiaries 10 19 28 15 9 ------ ------ ------ ----- ----- TOTAL 862 1,349 1,527 433 257 ------ ------ ------ ----- ----- ------ ------ ------ ----- ----- RATIO OF EARNINGS TO FIXED CHARGES 13.21 10.50 9.46 6.44 5.69 ------ ------ ------ ----- -----
(Amounts in millions of euros) US GAAP BASIS 2002 2001 2000 1999 1998 EARNINGS Net income 6,264 5,271 5,638 2,201 752 Income tax expenses 5,412 5,643 6,588 853 359 Minority interest 16 173 310 53 41 Equity in income of affiliates (in excess of)/less than dividends received (547) (561) (666) 16 (24) Interest expensed 695 1,015 1,181 314 151 Estimate of the interest within rental expense 68 56 44 17 13 Amortization of capitalised interest 124 103 101 45 24 ------ ------ ------ ----- ----- TOTAL 12,032 11,700 13,196 3,499 1,316 ------ ------ ------ ----- ----- FIXED CHARGES Interest expensed 695 1,015 1,181 314 151 Capitalized interest 89 259 274 87 84 Estimate of the interest within rental expense 68 56 44 17 13 Preference security dividend requirements of consolidated subsidiaries 10 19 28 15 9 ------ ------ ------ ----- ----- TOTAL 862 1,349 1,527 433 257 ------ ------ ------ ----- ----- ------ ------ ------ ----- ----- RATIO OF EARNINGS TO FIXED CHARGES 13.96 8.67 8.64 8.08 5.13 ------ ------ ------ ----- -----