EX-12.1 7 d20641dex121.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, 2015 (1)		     Year ended
June 30, 2014
Restated (2)		     Year ended
June 30, 2013
Restated (2)		     Year ended
June 30, 2012
Restated (2)		     Year ended
June 30, 2011 (3)		  

Earnings

           

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

      7,508.0        20,550.0        19,686.0        20,107.0        31,255.0   

add:

           

Fixed charges

      760.9        650.7        1,197.1        789.5        650.8   

Distributed income of equity investees

      723.0        1,250.0        710.0        712.0        0.0   

subtract:

           

Capitalised interest

      (148.0 )      (182.0 )      (290.0 )      (190.0 )      (256.0 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total adjusted earnings

      8,843.9        22,268.7        21,303.1        21,418.5        31,649.8   

Fixed Charges

           

Interest costs (expensed and capitalised)

      551.0        687.0        973.0        604.0        502.0   

Portion of rent expense representative of interest factor

      209.9        219.5        224.1        185.5        148.8   

Pre-tax earnings required to cover any preferred stock dividend requirements

      0.0        0.0        0.0        0.0        0.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      760.9        906.5        1,197.1        789.5        650.8   

Ratio of Adjusted Earnings to Fixed Charges

      11.6        24.6        17.8        27.1        48.6   

 

(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 demerger of South32 Limited (“South 32”).

(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 demerger of South32.

(3) 

Presented on a Continuing and Discontinuing operations basis and not restated for the effect of South32. Additionally, the FY2011 figures have not been restated for the effects of accounting standards and interpretations and other voluntary changes in accounting policy, which were effective in FY2014. As a result the applicable FY2011 ratios are not comparable.