Attached files
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios) | ||||||||||||||||||||||||
Three Months Ended September 30, |
Fiscal Year Ended June 30, |
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2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
Earnings (1): |
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Earnings from continuing operations before income taxes |
$ | 8,438 | $ | 20,363 | $ | 22,271 | $ | 18,438 | $ | 16,380 | $ | 14,576 | ||||||||||||
Add: Fixed charges |
69 | 108 | 151 | 271 | 331 | 247 | ||||||||||||||||||
Add: Cash distributions from equity method investments |
4 | 85 | 10 | | 51 | 11 | ||||||||||||||||||
Subtract: Income from equity method investments |
4 | 81 | 62 | 62 | | | ||||||||||||||||||
Total Earnings: |
$ | 8,507 | $ | 20,475 | $ | 22,370 | $ | 18,647 | $ | 16,762 | $ | 14,834 | ||||||||||||
Fixed Charges (2): |
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Interest expense |
$ | 37 | $ | 38 | $ | 106 | $ | 230 | $ | 295 | $ | 209 | ||||||||||||
Capitalized debt issuances costs |
19 | 20 | | | | | ||||||||||||||||||
Interest component of rent expense |
13 | 50 | 45 | 41 | 36 | 38 | ||||||||||||||||||
Total Fixed Charges: |
$ | 69 | $ | 108 | $ | 151 | $ | 271 | $ | 331 | $ | 247 | ||||||||||||
Ratio of Earnings to Fixed Charges |
123 | 190 | 148 | 69 | 51 | 60 | ||||||||||||||||||
(1) | Earnings represent earnings from continuing operations before income taxes and before income (losses) from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments. |
(2) | Fixed charges include: (a) interest expense; (b) capitalized debt issuance costs; and (c) the portion of operating rental expense which management believes is representative of the interest component of rent expense. |