EX-99.3 4 dex993.htm EXHIBIT 99.3 Exhibit 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. (“TOTAL”) and its subsidiaries and affiliates (collectively, 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, 2010 and 2009 and the fiscal years ended December 31, 2009, 2008, 2007, 2006 and 2005.

 

     Three Months Ended
March  31,
   Years Ended December 31,
     2010    2009    2009    2008    2007    2006    2005(a)

For the Group (IFRS)

   31.23    19.75    21.11    20.86    14.06    13.93    18.60

 

(a) 2005 amounts reflect continuing operations (i.e., excluding Arkema, which was spun-off on May 12, 2006).

Earnings for the computations above under IFRS were calculated by adding pre-tax income from continuing operations before adjustment for minority 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, 2010, prepared on the basis of IFRS.

 

     At March 31,
2010
 
     (in millions of euros)  

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

  

Current portion of non-current financial debt

   1,826   

Current financial debt

   5,014   

Current portion of financial instruments for interest rate swaps liabilities

   151   

Other current financial instruments — liabilities

   163   
      

Total current financial debt

   7,154   
      

Non-current financial debt

   19,727   

Minority interests

   1,083   

Shareholders’ equity

  

Common shares

   5,871   

Paid-in surplus and retained earnings

   58,026   

Currency translation adjustment

   (3,010

Treasury shares

   (3,604
      

Total shareholders’ equity

   57,283   
      

Total capitalization and non-current indebtedness

   78,093   
      

As of March 31, 2010, TOTAL had an authorized share capital of 3,381,921,458 ordinary shares with a par value of €2.50 per share, and an issued share capital of 2,348,587,570 ordinary shares (including 114,946,928 treasury shares from shareholders’ equity).

As of March 31, 2010, approximately €303 million of TOTAL’s non-current financial debt was secured and approximately €19,424 million was unsecured, and all of TOTAL’s current financial debt of €5,014 million was unsecured. As of March 31, 2010, 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 Annual Report on Form 20-F for the year ended December 31, 2009. Since March 31, 2010, Total Capital has issued approximately €68 million (after swaps) of non-current financial debt.

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TOTAL since March 31, 2010.

 

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