EX-12.1 6 d349707dex121.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES Calculation of ratio of earnings to fixed charges

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

  

(amounts in millions of SEK)                                          
Year    2007      2008      2009      2010      2011      Q1 2012  

Pre-tax profit before profit or loss for all associated/ JV companies (equity investees)

      23,497         17,662         13,643         16,955         21,899         10,479   

Fixed charges:

                  

Interest expense

      1,543         2,023         1,616         1,315         1,706         331   

Interest part of leases/ rentals*

      959         1,569         1,280         1,225         1,121         275   

Total fixed charges

      2,502         3,592         2,896         2,540         2,827         606   

Dividends from all associated/ JV companies

      4,216         3,854         66         104         154         0   

Pre-tax profit before profit or loss for all associated/ JV companies (equity investees) plus fixed charges plus dividends received

      30,215         25,108         16,605         19,599         24,880         11,085   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed Charges

      12.1         7.0         5.7         7.7         8.8         18.3   

 

* One-third of net rent expense is the portion of rental expense deemed representative of the interest factor. Net rent expense during Q1 2012 is calculated as one-fourth of the estimated annual leasing cost in 2012.