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- 20-F Annual report (foreign)
- 1 Exhibit 1 Statoil Asa - Articles of Association 060218
- 2.2 Exhibit 2.2 Amended and Restated Agency Agreement Dated 5 May 2017
- 4 Exhibit 4(A)(II) Tsa Amendments
- 7 Exhibit 7 Ratio of Earnings to Fixed Charges
- 12.1 Exhibit 12.1 Rule 13A-14(A) Certification of the CEO
- 12.2 Exhibit 12.2 Rule 13A-14(A) Certification of the CFO
- 13.1 Exhibit 13.1 Rule 13A-14(B) Certification of the CEO
- 13 EXHIBIT_13-2 Exhibit 13.2 Rule 13A-14(B) Certification of the CFO
- 15 Exhibit 15(A)(I) Consent of KPMG
- 15 Exhibit 15(A)(II) Consent of Degolyer and Macnaughton
- 15 Exhibit 15(A)(III) Report of Degolyer and Macnaughton
- PDF Courtesy File of Annual Report and 20F
- Download Excel data file
- View Excel data file
Calculation of Ratio of Earnings to Fixed Charges
| (in USD millions, except ratio)1) | For the year ended 31 December 2017 | For the year ended 31 December 2016 | For the year ended 31 December 2015 | For the year ended 31 December 2014 | For the year ended 31 December 2013 |
Fixed charges |
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| Interest expense2) | 903 | 1,043 | 971 | 1,205 | 784 |
+ | Interest within rental expense | 872 | 1,079 | 1,444 | 1,528 | 1,233 |
+ | Capitalised interest | 454 | 355 | 392 | 250 | 183 |
Total fixed charges (A) | 2,229 | 2,477 | 2,807 | 2,983 | 2,201 | |
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Earnings |
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| Income before tax and minority interest | 13,420 | (178) | 55 | 17,898 | 23,646 |
- | Equity in net income non-consolidated investees | (188) | 119 | 29 | 34 | (20) |
+ | Distributed income of equity investees | (0) | (2) | (1) | (1) | (1) |
= | Income before taxes, minority interest and equity investees | 13,231 | (60) | 83 | 17,931 | 23,625 |
+ | Fixed charges (A) | 2,229 | 2,477 | 2,807 | 2,983 | 2,201 |
+ | Ordinary depreciation capital interest | 204 | 198 | 171 | 186 | 210 |
- | Capitalised interest | (454) | (355) | (392) | (250) | (183) |
Total earnings | 15,210 | 2,260 | 2,669 | 20,850 | 25,852 | |
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Ratio3) | 6.8 | 0.9 | 1.0 | 7.0 | 11.7 | |
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1) | On 1 January 2016, Statoil changed its presentation currency from Norwegian kroner (NOK) to US dollars (USD). | |||||
| Comparative figures in 2015, 2014 and 2013 have been represented in USD to reflect the change. | |||||
| For further details, reference is made to Note 26 Change of presentation currency to the Consolidated Financial Statements included in our Annual Report on Form 20-F for the fiscal year ended December 31, 2016. | |||||
2) | From and including 2016, interest expense excludes change in fair value of derivatives. The ratio for earlier years has been re-stated to reflect his change | |||||
3) | The dollar amount of the deficiency in Earnings to Fixed charges for the full year 2016 was USD 216 million |
Statoil, Annual Report on Form 20-F 2017 1