Exhibit 7.1
Computation of ratios of earnings to combined fixed charges (and preference share dividends)
For the purpose of calculating the ratios, earnings consist of income from continuing operations before taxation and non-controlling interests, plus fixed charges, and after deduction of the unremitted pre-tax income of associated undertakings. Fixed charges consist of total interest expense, including or excluding interest on deposits, as appropriate, dividends on preference shares and other equity instruments, as applicable, and the proportion of rental expense deemed representative of the interest factor.
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
US$m | US$m | US$m | US$m | US$m | ||||||||||||||||||||||||||
Profit before tax | 18,680 | 22,565 | 20,649 | 21,872 | 19,037 | |||||||||||||||||||||||||
Dividends received from associates | 757 | 694 | 489 | 304 | 441 | |||||||||||||||||||||||||
Share of profit in associates and joint ventures | (2,532 | ) | (2,325 | ) | (3,557 | ) | (3,264 | ) | (2,517 | ) | ||||||||||||||||||||
Fixed charges | 19,667 | 19,238 | 23,056 | 27,768 | 23,246 | |||||||||||||||||||||||||
– interest on deposits | 12,581 | 11,874 | 14,413 | 17,371 | 13,305 | |||||||||||||||||||||||||
– rental expense and other charges1 | 7,086 | 7,364 | 8,643 | 10,397 | 9,941 | |||||||||||||||||||||||||
Earnings2 | ||||||||||||||||||||||||||||||
– excluding interest on deposits | 23,991 | 28,298 | 26,224 | 29,309 | 26,902 | |||||||||||||||||||||||||
– including interest on deposits | 36,572 | 40,172 | 40,637 | 46,680 | 40,207 | |||||||||||||||||||||||||
Preference share dividends3 | 728 | 726 | 759 | 699 | 574 | |||||||||||||||||||||||||
Combined fixed charges and preference share dividends | ||||||||||||||||||||||||||||||
– excluding interest on deposits | 7,814 | 8,090 | 9,402 | 11,096 | 10,515 | |||||||||||||||||||||||||
– including interest on deposits | 20,395 | 19,964 | 23,815 | 28,467 | 23,820 |
1 | Includes an estimate of the interest in rental expense, charges incurred in respect of subordinated liabilities and interest on preference shares. |
2 | Includes profit before tax, dividends received from associates, and fixed charges, less share of profit in associates and joint ventures. |
3 | Dividends on preference shares and other equity instruments. |