PROCTER & GAMBLE Co - FORM 10-Q - EX-12 - EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - October 23, 2015

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EX-10.6 - EXHIBIT 10.6 KEY MANAGER LONG-TERM INCENTIVE PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x6.htm
EX-10.3 - EXHIBIT 10.3 SUMMARY OF THE COMPANY'S PERFORMANCE STOCK PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x3.htm
EX-3.2 - EXHIBIT 3.2 REGULATIONS AS APPROVED BY THE BOARD OF DIRECTORS ON JUNE 9, 2015 - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit3x2.htm
EX-10.1 - EXHIBIT 10.1 SUMMARY OF THE COMPANY'S SHORT TERM ACHIEVEMENT REWARD PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x1.htm
EX-10.5 - EXHIBIT 10.5 SUMMARY OF THE COMPANY'S KEY MANAGER LONG-TERM INCENTIVE PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x5.htm
EX-32.1 - EXHIBIT 32.1 SECTION 1350 CERTIFICATIONS CHIEF EXECUTIVE OFFICER - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit321.htm
EX-10.8 - EXHIBIT 10.8 RETIREMENT PLAN RESTORATION PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x8.htm
EX-31.2 - EXHIBIT 31.2 RULE 13A-14(A)/15D-14(A) CERTIFICATION CHIEF FINANCIAL OFFICER - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit312.htm
EX-10.7 - EXHIBIT 10.7 SUMMARY OF THE COMPANY'S RETIREMENT PLAN RESTORATION PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x7.htm
EX-31.1 - EXHIBIT 31.1 RULE 13A-14(A)/15D-14(A) CERTIFICATION CHIEF EXECUTIVE OFFICER - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit311.htm
EX-32.2 - EXHIBIT 32.2 SECTION 1350 CERTIFICATIONS CHIEF FINANCIAL OFFICER - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit322.htm
EX-10.9 - EXHIBIT 10.9 THE PROCTER & GAMBLE 2014 STOCK AND INCENTIVE COMPENSATION PLAN - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x9.htm
10-Q - 10-Q - PROCTER & GAMBLE Cofy1516q1jas10-qreport.htm
EX-10.4 - EXHIBIT 10.4 PERFORMANCE STOCK PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x4.htm
EX-10.2 - EXHIBIT 10.2 SHORT TERM ACHIEVEMENT REWARD PROGRAM - PROCTER & GAMBLE Cofy1516q1jas10-qexhibit10x2.htm


EXHIBIT 12
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Years Ended June 30
 
Three Months Ended September 30
 
2015
 
2014
 
2013
 
2012
 
2011
 
2015
 
2014
Amounts in millions, except ratio amounts
 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees
$
11,009

 
$
13,492

 
$
13,499

 
$
11,970

 
$
13,370

 
$
3,632

 
$
3,479

Fixed charges (excluding capitalized interest)
842

 
928

 
900

 
1,000

 
1,053

 
195

 
226

TOTAL EARNINGS, AS DEFINED
$
11,851

 
$
14,420

 
$
14,399

 
$
12,970

 
$
14,423

 
$
3,827

 
$
3,705

FIXED CHARGES, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including capitalized interest)
$
693

 
$
789

 
$
755

 
$
844

 
$
889

 
$
156

 
$
187

1/3 of rental expense
166

 
174

 
171

 
176

 
170

 
41

 
44

TOTAL FIXED CHARGES, AS DEFINED
$
859

 
$
963

 
$
926

 
$
1,020

 
$
1,059

 
$
197

 
$
231

RATIO OF EARNINGS TO FIXED CHARGES
13.8x

 
15.0x

 
15.5x

 
12.7x

 
13.6x

 
19.4x

 
16.0x




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