EX-99.3 4 d385243dex993.htm EX-99.3 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 based on information used in the preparation of our consolidated financial statements 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, 2017 and 2016 and the fiscal years ended December 31, 2016, 2015, 2014, 2013 and 2012.

 

       Three Months Ended  
March 31,
   Years Ended December 31,
     2017    2016      2016         2015          2014         2013(a)        2012(b)  

For the Group (IFRS)

   7.41    4.03    4.53    4.76    10.91    19.57    24.35

 

  (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 have been restated pursuant to the retrospective application of the revised accounting standard IAS 19 from January 1, 2013.

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, 2017, prepared on the basis of IFRS. Currency amounts are expressed in U.S. dollars (“dollars” or “$”) or in euros (“euros” or “€”).

 

   

At March 31,
2017

    (in millions of dollars)

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

 

Current portion of non-current financial debt

 

     4,018             

Current financial debt

 

     9,564             

Current portion of financial instruments for interest rate swaps liabilities

 

        173             

Other current financial instruments — liabilities

 

        104             

Financial liabilities directly associated with assets held for sale

 

             -              

 

 

Total current financial debt

 

   13,859             

 

 

Non-current financial debt

 

   42,017             

Non-controlling interests

 

     2,823             

Shareholders’ equity

 

Common shares

 

     7,667             

Paid-in surplus and retained earnings

 

 109,583             

Currency translation adjustment

 

(12,819)             

Treasury shares

 

     (600)             

 

 

Total shareholders’ equity — Group share

 

 103,831             

 

 

Total capitalization and non-current indebtedness

 

 148,671             

 

 

As of March 31, 2017, TOTAL S.A. had an authorized share capital of 3,481,722,094 ordinary shares with a par value of €2.50 per share, and an issued share capital of 2,453,937,714 ordinary shares (including 10,587,822 treasury shares from shareholders’ equity).

As of March 31, 2017, approximately $533 million of the Group’s non-current financial debt was secured and approximately $41,484 million was unsecured, and all of the Group’s current financial debt of $9,564 million was unsecured. As of March 31, 2017, TOTAL had no outstanding guarantees from third parties relating to its consolidated indebtedness. For more information about TOTAL’s commitments and contingencies, see Note 13 of the Notes to TOTAL’s audited Consolidated Financial Statements in its Annual Report on Form 20-F for the year ended December 31, 2016, filed with the Securities and Exchange Commission on March 17, 2017.

Except as disclosed herein, there have been no material changes in the consolidated capitalization, indebtedness and contingent liabilities of TOTAL since March 31, 2017.

 

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