Attached files
EXHIBIT 12
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Years Ended June 30 | Six Months Ended December 31 | ||||||||||||||||||||
| Amounts in millions |
2009 | 2008 | 2007 | 2006 | 2005 | 2009 | 2008 | ||||||||||||||
| EARNINGS, AS DEFINED |
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| Earnings from operations before income taxes and before adjustments for minority interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees |
$ | 14,461 | $ | 14,927 | $ | 13,698 | $ | 11,658 | $ | 9,128 | $ | 8,824 | $ | 8,184 | |||||||
| Fixed charges (excluding amortization capitalized interest) |
1,576 | 1,640 | 1,458 | 1,268 | 948 | 623 | 782 | ||||||||||||||
| TOTAL EARNINGS, AS DEFINED |
$ | 16,037 | $ | 16,567 | $ | 15,156 | $ | 12,926 | $ | 10,076 | $ | 9,447 | $ | 8,966 | |||||||
| FIXED CHARGES, AS DEFINED |
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| Interest expense (including capitalized interest) |
$ | 1,431 | $ | 1,546 | $ | 1,374 | $ | 1,153 | $ | 869 | $ | 546 | $ | 729 | |||||||
| 1/3 of rental expense |
177 | 137 | 124 | 122 | 90 | 89 | 69 | ||||||||||||||
| TOTAL FIXED CHARGES, AS DEFINED |
$ | 1,608 | $ | 1,683 | $ | 1,498 | $ | 1,275 | $ | 959 | $ | 635 | $ | 798 | |||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
10.0x | 9.8x | 10.1x | 10.1x | 10.5x | 14.9x | 11.2x | ||||||||||||||