- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
|
Exhibit 7
Computation of ratio of earnings to fixed charges (unaudited)
$ million, except ratios | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||||
Pre-tax income (loss) from continuing operations before adjustment for income or loss from joint ventures and associates(a) (b) | 27,032 | 14,196 | 32,545 | (10,064 | ) | 20,916 | ||||||||||||||
Fixed charges | 3,021 | 2,971 | 2,808 | 2,944 | 2,279 | |||||||||||||||
Amortization of capitalized interest | 226 | 145 | 44 | 212 | 252 | |||||||||||||||
Distributed income of joint ventures and associates | 1,391 | 1,763 | 5,040 | 3,277 | 3,003 | |||||||||||||||
Interest capitalized | (238 | ) | (390 | ) | (349 | ) | (254 | ) | (188 | ) | ||||||||||
Preference dividend requirements, gross of tax | (2 | ) | (3 | ) | (3 | ) | (2 | ) | (3 | ) | ||||||||||
Income of non-controlling interests not inccuring fixed charges | — | — | — | (9 | ) | (1 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total earnings available for fixed charges | 31,430 | 18,682 | 40,085 | (3,896 | ) | 26,258 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expensed | 844 | 844 | 802 | 701 | 718 | |||||||||||||||
Interest capitalized | 238 | 390 | 349 | 254 | 188 | |||||||||||||||
Rental expense representative of interest | 1,937 | 1,734 | 1,654 | 1,987 | 1,370 | |||||||||||||||
Preference dividend requirements, gross of tax | 2 | 3 | 3 | 2 | 3 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total fixed charges | 3,021 | 2,971 | 2,808 | 2,944 | 2,279 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges | 10.4 | 6.3 | 14.3 | — | 11.5 | |||||||||||||||
Deficiency of earnings to fixed charges | — | — | — | (6,840 | ) | — |
(a) | 2013 includes a pre-tax charge of $469 million (2012 $5,014 million pre-tax charge, 2011 $3,742 million pre-tax credit and 2010 $40,935 million pre-tax charge) relating to the Gulf of Mexico oil spill. |
(b) | 2012 includes $709 million of dividends received from TNK-BP. |