PROCTER & GAMBLE Co - FORM 10-K - EX-12 - EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - August 9, 2016

Attached files

file filename
EX-10.6 - EXHIBIT 10.6 SUMMARY OF THE COMPANY'S KEY MANAGER LONG-TERM INCENTIVE PROGRAM - PROCTER & GAMBLE Cofy151610-kexhibit10x6.htm
EX-21 - EXHIBIT 21 SUBSIDIARIES OF THE REGISTRANT - PROCTER & GAMBLE Cofy151610-kexhibit21.htm
EX-2.1 - EXHIBIT 2.1 AMENDMENTS TO AGREEMENT AMONG P&G, COTY, GALLERIA, GREEN ACQ SUB - PROCTER & GAMBLE Cofy151610-kexhibit2x1.htm
10-K - 10-K - PROCTER & GAMBLE Cofy151610-kreport.htm
EX-99.1 - EXHIBIT 99.1 SUMMARY OF DIRECTORS AND OFFICERS INSURANCE PROGRAM - PROCTER & GAMBLE Cofy151610-kexhibit99x1.htm
EX-32 - EXHIBIT 32 SECTION 1350 CERTIFICATIONS - PROCTER & GAMBLE Cofy151610-kexhibit32.htm
EX-31 - EXHIBIT 31 RULE13A-14(A)/15D-14(A) CERTIFICATIONS - PROCTER & GAMBLE Cofy151610-kexhibit31.htm
EX-23 - EXHIBIT 23 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PROCTER & GAMBLE Cofy151610-kexhibit23.htm
EX-10.27 - EXHIBIT 10.27 SUMMARY OF THE COMPANY'S RETIREMENT PLAN RESTORATION PROGRAM - PROCTER & GAMBLE Cofy151610-kexhibit10x27.htm
EX-10.25 - EXHIBIT 10.25 THE PROCTER & GAMBLE 2014 STOCK AND INCENTIVE COMPENSATION PLAN - PROCTER & GAMBLE Cofy151610-kexhibit10x25.htm
EX-10.23 - EXHIBIT 10.23 THE PROCTER & GAMBLE PERFORMANCE STOCK PROGRAM SUMMARY - PROCTER & GAMBLE Cofy151610-kexhibit10x23.htm
EX-10.10 - EXHIBIT 10.10 SUMMARY OF THE COMPANY'S SHORT TERM ACHIEVEMENT REWARD PROGRAM - PROCTER & GAMBLE Cofy151610-kexhibit10x10.htm
EX-3.2 - EXHIBIT 3.2 REGULATIONS AS APPROVED BY THE BOARD OF DIRECTORS ON APRIL 8, 2016 - PROCTER & GAMBLE Cofy151610-kexhibit3x2.htm
EX-3.1 - EXHIBIT 3.1 AMENDED ARTICLES OF INC BY THE BOARD OF DIRECTORS ON APRIL 8, 2016 - PROCTER & GAMBLE Cofy151610-kexhibit3x1.htm


EXHIBIT (12)
The Procter & Gamble Company and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges

 
Years ended June 30
Amounts in millions
2016
 
2015
  
2014
  
2013
  
2012
EARNINGS, AS DEFINED
 
  
 
  
 
  
 
  
 
Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees
$
13,356

 
$
11,009

 
$
13,492

  
$
13,499

  
$
11,970

Fixed charges (excluding capitalized interest)
778

 
842

 
928

  
900

  
1,000

TOTAL EARNINGS, AS DEFINED
$
14,134

 
$
11,851

 
$
14,420

  
$
14,399

  
$
12,970

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES, AS DEFINED
 
  
 
  
 
  
 
  
 
Interest expense (including capitalized interest)
$
634

 
$
693

 
$
789

  
$
755

  
$
844

1/3 of rental expense
144

 
166

 
174

  
171

  
176

TOTAL FIXED CHARGES, AS DEFINED
$
778

 
$
859

 
$
963

  
$
926

  
$
1,020

 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
18.2x
 
13.8x
 
15.0x
  
15.5x
  
12.7x



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