EX-12.1 7 d588363dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

 

BHP Billiton Group           

RATIO OF EARNINGS TO FIXED

CHARGES

 

 

        

In accordance with IFRS

    Year ended
June 30, 2018 (1)		     Year ended
June 30, 2017
Restated (2)		     Year ended
June 30, 2016
Restated (2)		     Year ended
June 30, 2015
Restated (2)		     Year ended
June 30, 2014
Restated (2)		  

Earnings

           

Income before income taxes, excluding equity in earnings of associates and JV’s, after exceptional items

      14,604.0       10,865.0       3,895.0       11,669.0       20,839.0  

add:

           

Fixed charges

      1,284.4       1,209.3       1,023.8       783.8       759.5  

Distributed income of equity investees

      693.0       620.0       293.0       723.0       1,250.0  

subtract:

           

Capitalised interest

      (139.0 )      (113.0 )      (123.0 )      (148.0 )      (182.0 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total adjusted earnings

      16,442.4       12,581.3       5,088.8       13,027.8       22,666.5  

Fixed Charges

           

Interest costs (expensed and capitalised)

      1,228.0       1,157.0       974.0       607.0       561.0  

Portion of rent expense representative of interest factor

      56.4       52.3       49.8       176.8       198.5  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      1,284.4       1,209.3       1,023.8       783.8       759.5  

Ratio of Adjusted Earnings to Fixed Charges

      12.8       10.4       5.0       16.6       29.8  

 

(1)  

Presented on a Continuing operations basis with the application of IFRS 5/AASB 5 ‘Non-current Assets Held for Sale and Discontinued Operations’ following the announcement of the sale of Onshore US assets on July 27, 2018).

(2) 

Presented on a Continuing operations basis and have been restated for the application of IFRS 5/AASB 5 ‘Non-current Assets Held for Sale and Discontinued Operations’ following the announcement of the sale of Onshore US assets on July 27, 2018 and FY2015 and FY2014 following the demerger of South32.