HP INC - FORM 10-Q - EX-12 - September 8, 2015

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EX-32 - EX-32 - HP INCa2225780zex-32.htm
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Exhibit 12

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Statements of Computation of Ratio of Earnings to Fixed Charges(1)

 
    
   Fiscal years ended October 31  
 
   Nine months
ended
July 31, 2015 		 
 
   2014   2013   2012   2011   2010  
 
   In millions, except ratios
  

Earnings (loss):

                                      

Earnings (loss) before taxes

   $ 4,142   $ 6,557   $ 6,510   $ (11,933 ) $ 8,982   $ 10,974  

Adjustments:

                                      

Non-controlling interests in the income of subsidiaries with fixed charges

     36     46     69     102     75     108  

Undistributed loss (earnings) of equity method investees

     2     (5 )   (4 )   (2 )   3     12  

Fixed charges

     635     1,017     1,162     1,297     1,027     868  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

  $ 4,815   $ 7,615   $ 7,737   $ (10,536 ) $ 10,087   $ 11,962  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
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Fixed charges:

                                      

Total interest expense, including interest expense on borrowings, amortization of debt discount, premium on all indebtedness and other

   $ 427   $ 665   $ 769   $ 865   $ 551   $ 417  

Interest included in rent

     208     352     393     432     476     451  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 635   $ 1,017   $ 1,162   $ 1,297   $ 1,027   $ 868  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
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Ratio of earnings to fixed charges (excess of fixed charges over earnings)

     7.6x     7.5x     6.7x   $ (11,833 )   9.8x     13.8x  
(1)
HP computed the ratio of earnings to fixed charges by dividing earnings (earnings (loss) before taxes, adjusted for non-controlling interests in the income of subsidiaries with fixed charges, undistributed loss (earnings) of equity method investees, and fixed charges) by fixed charges for the periods indicated. Fixed charges include (i) interest expense on borrowings, amortization of debt discount, premium on all indebtedness and other, and (ii) a reasonable approximation of the interest factor deemed to be included in rent expense.



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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Statements of Computation of Ratio of Earnings to Fixed Charges(1)

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