EX-7.1 3 d680074dex71.htm EX-7.1 EX-7.1

Exhibit 7.1

Computation of ratios of earnings to combined fixed charges (and preference share dividends)

 

For the purpose of calculating the ratios, earnings consist of income from continuing operations before taxation and non-controlling interests, plus fixed charges, and after deduction of the unremitted pre-tax income of associated undertakings. Fixed charges consist of total interest expense, including or excluding interest on deposits, as appropriate, dividends on preference shares and other equity instruments, as applicable, and the proportion of rental expense deemed representative of the interest factor.

 

    

2013

US$m

        

2012

US$m

        

2011

US$m

        

2010

US$m

        

2009

US$m

 

Profit before tax

     22,565           20,649           21,872           19,037           7,079   

Dividends received from associates

     694           489           304           441           414   

Share of profit in associates and joint ventures

     (2,325        (3,557        (3,264        (2,517        (1,781

Fixed charges

     19,238           23,056           27,768           23,246           26,201   

– interest on deposits

     11,874           14,413           17,371           13,305           15,397   

– rental expense and other charges1

     7,364           8,643           10,397           9,941           10,804   

Earnings2

                      

– excluding interest on deposits3

     28,298           26,224           29,309           26,902           16,516   

– including interest on deposits

     40,172           40,637           46,680           40,207           31,913   

Preference share dividends4

     726           759           699           574           374   

Combined fixed charges and preference share dividends

                      

– excluding interest on deposits3

     8,090           9,402           11,096           10,515           11,178   

– including interest on deposits

     19,964           23,815           28,467           23,820           26,575   

 

1 Includes an estimate of the interest in rental expense, charges incurred in respect of subordinated liabilities and interest on preference shares.
2 Includes profit before tax, dividends received from associates, and fixed charges, less share of profit in associates and joint ventures.
3 Amounts previously disclosed from 2009 to 2012 excluded interest expense on certain debt instruments in addition to interest on deposits. Amounts presented for these periods have been re-presented to exclude only interest on deposits.
4 Dividends on preference shares and other equity instruments.