EX-99.4 5 ex994.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 99.4

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(unaudited)

 

 

 

 

Nine Months
Ended September 30,

 

Years Ended December 31,

(Amounts in millions of dollars)

 

2018

 

2017

 

2017

 

2016

 

2015

 

2014

 

2013

Net income(a)

 

 

10,314

 

 

 

7,610

 

 

 

8,631

 

 

 

6,196

 

 

 

5,087

 

 

 

4,244

 

 

 

11,228

 

Income tax expenses(a)

 

 

5,923

 

 

 

2,257

 

 

 

3,029

 

 

 

970

 

 

 

1,653

 

 

 

8,614

 

 

 

14,767

 

Non-controlling interests

 

 

56

 

 

 

(41

)

 

 

(332

)

 

 

10

 

 

 

(301

)

 

 

6

 

 

 

293

 

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

 

 

(973)

 

 

 

96

 

 

 

42

 

 

 

(643

)

 

 

(311

)

 

 

29

 

 

 

(775

)

Interest expensed

 

 

1,102

 

 

 

750

 

 

 

1,000

 

 

 

734

 

 

 

742

 

 

 

536

 

 

 

656

 

Estimate of the interest within rental expense

 

 

367

 

 

407

 

 

 

489

 

 

 

543

 

 

 

477

 

 

 

406

 

 

 

357

 

Amortization of capitalized interest

 

 

157

 

 

 

158

 

 

 

191

 

 

 

161

 

 

 

174

 

 

 

160

 

 

 

135

 

Total(a)

 

 

16,946

 

 

 

11,237

 

 

 

13,050

 

 

 

7,971

 

 

 

7,521

 

 

 

13,995

 

 

 

26,661

 

Interest expensed

 

 

1,102

 

 

 

750

 

 

 

1,000

 

 

 

734

 

 

 

742

 

 

 

536

 

 

 

656

 

Capitalized interest

 

 

393

 

 

 

352

 

 

 

475

 

 

 

481

 

 

 

362

 

 

 

341

 

 

 

349

 

Estimate of the interest within rental expense

 

 

367

 

 

 

407

 

 

 

489

 

 

 

543

 

 

 

477

 

 

 

406

 

 

 

357

 

Preference security dividend requirements of consolidated subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

1,862

 

 

 

1,509

 

 

 

1,964

 

 

 

1,758

 

 

 

1,581

 

 

 

1,283

 

 

 

1,362

 

Ratio of earnings to fixed charges(a)

 

 

9.10

 

 

 

7.45

 

 

 

6.64

 

 

 

4.53

 

 

 

4.76

 

 

 

10.91

 

 

 

19.57

 

 

 

 

 

 

(a)  

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