Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| Year ended March 31, |
| Six months ended September 30, |
| ||||||||
|
| 2013 |
| 2014 |
| 2015 |
| 2016 |
| 2017 |
| 2017 |
|
|
| (in millions, except for ratio) |
| (in millions, except for ratio) |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income tax and share of results of equity investees |
| 10,112 |
| 26,802 |
| 32,326 |
| 81,468 |
| 60,029 |
| 41,081 |
|
Add: Fixed charges |
| 1,746 |
| 2,085 |
| 2,287 |
| 2,195 |
| 3,079 |
| 1,649 |
|
Adjusted for distributed income of equity investees and interest capitalized |
| (14 | ) | (31 | ) | (30 | ) | (22 | ) | 228 |
| 206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Earnings |
| 11,844 |
| 28,856 |
| 34,583 |
| 83,641 |
| 63,336 |
| 42,936 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expensed and interest capitalized |
| 1,675 |
| 2,033 |
| 2,210 |
| 2,084 |
| 2,879 |
| 1,549 |
|
Add: Estimated interest within rental expense |
| 71 |
| 52 |
| 77 |
| 111 |
| 200 |
| 100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fixed Charges |
| 1,746 |
| 2,085 |
| 2,287 |
| 2,195 |
| 3,079 |
| 1,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
| 6.8 |
| 13.8 |
| 15.1 |
| 38.1 |
| 20.6 |
| 26.0 |
|