EX-7.1 2 y06016exv7w1.htm EXHIBIT 7.1 EXHIBIT 7.1

EXHIBITS
 
EXHIBIT 7.1
 
                                             
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES   $ million, except where otherwise indicated      
    2008     2007     2006     2005     2004      
Pre-tax income from continuing operations before income from equity investees
    43,374       42,342       37,957       37,444       26,644      
Total fixed charges
    2,689       2,380       2,258       1,958       1,685      
Distributed income from equity investees
    9,325       6,955       5,488       6,709       4,190      
Less: interest capitalised
    870       667       564       427       207      
Less: preference security dividend requirements of consolidated subsidiaries
    –       –       –       7       9      
                                             
Total earnings
    54,518       51,010       45,139       45,677       32,303      
                                             
Interest expensed and capitalised
    2,051       1,775       1,713       1,494       1,267      
Interest within rental expense
    638       605       545       457       409      
Less: preference security dividend requirements of consolidated subsidiaries
    –       –       –       7       9      
                                             
Total fixed charges
    2,689       2,380       2,258       1,958       1,685      
                                             
Ratio earnings/fixed charges
    20.27       21.43       19.99       23.33       19.17      
                                             

 
 
E1  Shell Annual Report and Form 20-F 2008