EX-7.1 7 d804689dex71.htm EX-7.1 EX-7.1

Exhibit 7.1

Calculation of Ratio of Earnings to Fixed Charges (times)

The ratio of earnings to fixed charges is determined using the following applicable factors:

Earnings available for fixed charges are calculated, first, by determining the sum of: (a) net profit before taxation and the Unilever Group’s share of net profit/(loss) of joint ventures and associates; (b) dividend income receivable from joint ventures and associates; and (c) fixed charges, as defined below.

Fixed charges are calculated as the sum of: (a) finance costs (both expensed and capitalized); and (b) one-third of lease costs (e.g., that portion of rental expense that is representative of the interest factor).

 

Earnings to Fixed Charges

   € million
2014
    € million
2013
    € million
2012
    € million
2011
    € million
2010
 

Earnings

          

Net profit

     5,515        5,263        4,836        4,491        4,465   

Add: Taxation

     2,131        1,851        1,697        1,575        1,486   

(Less)/Add: Share of net profit/(loss) of joint ventures and associates

     (98     (113     (105     (113     (111

Add: Dividend income receivable from joint ventures and associates

     131        110        119        111        141   

Add: Fixed charges

     678        663        712        691        634   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
  8357      7,774      7,259      6,755      6,615   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

Finance costs

  500      500      526      540      480   

Add: One-third of lease costs

  178      163      186      151      154   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
  678      663      712      691      634   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (times)

  12.3      11.7      10.2      9.8      10.4