Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
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| Six Months Ended June 30, |
| Year Ended December 31, |
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In millions $ |
| 2012 |
| 2011 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Earnings: |
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Income from continuing operations before taxes |
| 5,953 |
| 6,604 |
| 10,773 |
| 11,702 |
| 9,922 |
| 9,499 |
| 7,487 |
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- Results from associated companies |
| (304 | ) | (247 | ) | (528 | ) | (804 | ) | (293 | ) | (441 | ) | (412 | ) |
Income from continuing operations before taxes (after eliminating our share of results from associated companies) |
| 5.649 |
| 6.357 |
| 10,245 |
| 10,898 |
| 9,629 |
| 9,058 |
| 7,075 |
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+ Fixed charges |
| 410 |
| 448 |
| 888 |
| 809 |
| 664 |
| 405 |
| 354 |
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+ Dividends from associated companies |
| 398 |
| 381 |
| 403 |
| 568 |
| 504 |
| 248 |
| 155 |
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Total EARNINGS |
| 6,457 |
| 7,186 |
| 11,536 |
| 12,275 |
| 10,797 |
| 9,711 |
| 7,584 |
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Fixed charges: |
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Interest expense |
| 347 |
| 379 |
| 751 |
| 692 |
| 551 |
| 290 |
| 237 |
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Interest within rental expense (1/3 of rental) |
| 63 |
| 69 |
| 137 |
| 117 |
| 113 |
| 115 |
| 117 |
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Total FIXED CHARGES |
| 410 |
| 448 |
| 888 |
| 809 |
| 664 |
| 405 |
| 354 |
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Ratio of Earnings to Fixed Charges |
| 15.7 |
| 16.0 |
| 13.0 |
| 15.2 |
| 16.3 |
| 24.0 |
| 21.4 |
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