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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|
| 2015 |
| 2014 |
| 2014 |
| 2013(1) |
| 2012(1) (2) |
| 2011(1) (2) |
| 2010(1) |
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| (in $ millions) |
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Earnings: |
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Income from continuing operations before taxes |
| 4,834 |
| 5,984 |
| 12,272 |
| 10,807 |
| 11,236 |
| 10,066 |
| 10,323 |
|
- Income from associated companies |
| (136 | ) | (400 | ) | (1,918 | ) | (599 | ) | (549 | ) | (526 | ) | (798 | ) |
Income from continuing operations before taxes (after eliminating our share of income from associated companies) |
| 4,698 |
| 5,584 |
| 10,354 |
| 10,208 |
| 10,687 |
| 9,540 |
| 9,525 |
|
+ Fixed charges |
| 397 |
| 390 |
| 818 |
| 798 |
| 844 |
| 875 |
| 796 |
|
+ Dividends from associated companies |
| 431 |
| 473 |
| 478 |
| 443 |
| 421 |
| 397 |
| 568 |
|
Total EARNINGS |
| 5,526 |
| 6,447 |
| 11,650 |
| 11,449 |
| 11,952 |
| 10,812 |
| 10,889 |
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Fixed charges: |
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Interest expense |
| 343 |
| 334 |
| 704 |
| 683 |
| 724 |
| 751 |
| 692 |
|
Interest within rental expense (1/3 of rental) |
| 54 |
| 56 |
| 114 |
| 115 |
| 120 |
| 124 |
| 104 |
|
Total FIXED CHARGES |
| 397 |
| 390 |
| 818 |
| 798 |
| 844 |
| 875 |
| 796 |
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Ratio of Earnings to Fixed Charges |
| 13.9 |
| 16.5 |
| 14.2 |
| 14.3 |
| 14.2 |
| 12.4 |
| 13.7 |
|
(1) Figures for 2013, 2012, 2011 and 2010 differ from previously published information and have been restated to reflect the implications of the presentation of continuing operations as described in more detail for the years 2013 and 2012 under Item 18. Financial Statements — Note 30 in our Annual Report on Form 20-F for the year ended December 31, 2014.
(2) Figures for 2011 and 2012 have been restated to reflect the adoption of revised IAS 19 on Employee Benefits.