Walgreens Boots Alliance, Inc. - FORM 10-Q - EX-12 - EXHIBIT 12 - January 5, 2017

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EX-32.2 - EXHIBIT 32.2 - Walgreens Boots Alliance, Inc.ex32_2.htm
EX-32.1 - EXHIBIT 32.1 - Walgreens Boots Alliance, Inc.ex32_1.htm
EX-31.2 - EXHIBIT 31.2 - Walgreens Boots Alliance, Inc.ex31_2.htm
EX-31.1 - EXHIBIT 31.1 - Walgreens Boots Alliance, Inc.ex31_1.htm
EX-10.3 - EXHIBIT 10.3 - Walgreens Boots Alliance, Inc.ex10_3.htm
EX-10.2 - EXHIBIT 10.2 - Walgreens Boots Alliance, Inc.ex10_2.htm
EX-10.1 - EXHIBIT 10.1 - Walgreens Boots Alliance, Inc.ex10_1.htm
10-Q - WALGREENS BOOTS ALLIANCE, INC. 10-Q 11-30-2016 - Walgreens Boots Alliance, Inc.form10q.htm
Exhibit 12

Walgreens Boots Alliance, Inc.
Computation of Historical Ratios of Earnings to Fixed Charges (a)
(in millions, except ratio data)

   
Three Months Ended,
    
Twelve Months Ended,
  
   
November, 2016
    
2016
    
2015
    
2014
    
2013
    
2012
  
Income before income tax provision
  
$
1,275
    
$
5,144
    
$
5,311
    
$
3,557
    
$
4,047
    
$
3,376
  
Add:
                                                
Minority Interests
    
-
      
-
      
-
      
-
      
5
      
-
  
Fixed charges
    
586
      
2,367
      
2,054
      
1,376
      
1,383
      
1,260
  
Amortization of capitalized interest
    
-
      
-
      
1
      
6
      
7
      
6
  
Less:
                                                
Equity earnings
    
(5
)
    
(37
)
    
(315
)
    
(617
)
    
(496
)
    
-
  
Capitalized interest
    
-
      
-
      
(1
)
    
(6
)
    
(7
)
    
(9
)
Earnings as defined
  
$
1,856
    
$
7,474
    
$
7,050
    
$
4,316
    
$
4,939
    
$
4,633
  
 
                                                
Interest expense, net of capitalized interest
  
$
173
    
$
628
    
$
632
    
$
168
    
$
193
    
$
94
  
Capitalized interest
    
-
      
-
      
1
      
6
      
7
      
9
  
Portions of rentals representative of the interest factor
    
413
      
1,739
      
1,421
      
1,202
      
1,183
      
1,157
  
Fixed charges as defined
  
$
586
    
$
2,367
    
$
2,054
    
$
1,376
    
$
1,383
    
$
1,260
  
 
                                                
Ratio of earnings to fixed charges
    
3.17
      
3.16
      
3.43
      
3.14
      
3.57
      
3.68
  

(a) For the purpose of computing these ratios, “earnings” consist of earnings before income tax provision and before adjustment for income or loss from equity investees, interest, distributed income of equity-method investees, and the portions of rentals representative of the interest factor.  “Fixed charges” consist of interest expense (which includes amortization of capitalized debt issuance costs), capitalized interest and the portions of rentals representative of the interest factor.
 
 

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