EX-7 3 a2190793zex-7.htm EXHIBIT 7

Exhibit 7

 

Daimler AG and its Consolidated Subsidiaries

Computation of Ratios of Earnings to Fixed Charges

 

(in millions of €, except ratios)

 

 

 

U.S. GAAP

 

IFRS (3)

 

 

 

Year Ended December 31,

 

Year Ended December 31,

 

 

 

2002

 

2003

 

2004

 

2005

 

2006

 

2005

 

2006

 

2007

 

2008

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) from continuing operations before income taxes, minority interests, and cumulative effects of changes in accounting principles

 

5,925

 

596

 

3,535

 

3,376

(2)

4,021

(2)

2,426

 

4,902

 

9,181

 

2,795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

4,102

 

3,383

 

3,199

 

4,312

 

4,649

 

3,457

 

3,714

 

4,147

 

4,565

 

Amortization of previously capitalized interest

 

134

 

119

 

107

 

104

 

97

 

—

 

—

 

—

 

—

 

Dividends received from equity investees

 

133

 

80

 

107

 

122

 

159

 

122

 

159

 

9

 

9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(147

)

(100

)

(70

)

(73

)

(73

)

—

 

—

 

—

 

—

 

(Income)/loss from equity investees

 

134

 

538

 

937

 

(103

)

(318

)

(372

)

148

 

399

 

1,128

 

Earnings available for fixed charges

 

10,281

 

4,616

 

7,815

 

7,738

 

8,535

 

5,633

 

8,923

 

13,736

 

8,497

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

3,709

 

3,034

 

2,828

 

3,924

 

4,256

 

3,264

 

3,526

 

3,943

 

4,377

 

Capitalized interest

 

147

 

100

 

70

 

73

 

73

 

—

 

—

 

—

 

—

 

Interest portion of rent expense (1)

 

246

 

249

 

301

 

315

 

320

 

193

 

188

 

204

 

188

 

Total fixed charges

 

4,102

 

3,383

 

3,199

 

4,312

 

4,649

 

3,457

 

3,714

 

4,147

 

4,565

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

2.51

 

1.36

 

2.44

 

1.79

 

1.84

 

1.63

 

2.40

 

3.31

 

1.86

 

 

(1)   One third of all rental expenses is deemed to be interest.

(2)   Income from continuing operations before income taxes, minority interests, and cumulative effects of changes in accounting principles under US-GAAP for the years 2005 and 2006 was retroactively adjusted in connection with the first time adoption of IFRS. The adjustements did not materially affect the results of the years 2005 or 2006.

(3)   The IFRS based numbers for the years ended December 31, 2007, 2006 and 2005 have been adjusted to reflect the presentation of the Chrysler activities as discontinued operations.