Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions of SEK)
Year | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||
Pre-tax profit before profit or loss for all associated/ JV companies (equity investees) | 17228 | 15867 | 19910 | 3995 | -39354 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 1412 | 1376 | 1428 | 1355 | 1027 | |||||||||||||||
Interest part of leases/ rentals (note 1/3 rule) | 839 | 887 | 1150 | 1237 | 1398 | |||||||||||||||
Total fixed charges | 2251 | 2263 | 2578 | 2592 | 2425 | |||||||||||||||
Dividends from all associated/ JV companies | 128 | 249 | 92 | 84 | 77 | |||||||||||||||
Pre-tax profit before profit or loss for all associated/ JV companies (equity investees) plus fixed charges plus dividends received | 19607 | 18379 | 22580 | 6671 | -36852 | |||||||||||||||
Ratio of earnings to fixed charges | 8.7 | 8.1 | 8.8 | 2.6 | — |