EX-12 3 ex12-statementofcomputatio.htm STATEMENT OF COMPUTATION Ex 12 - Statement of Computation - Form 10-K - 2012 1230


EXHIBIT 12
JOHNSON & JOHNSON AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1) 
(Dollars in Millions)
 
 
 
Fiscal Year Ended
 
December 30, 2012
 
January 1, 2012
 
January 2,
2011
 
January 3,
2010
 
December 28,
2008
 
 
Determination of Earnings:
 
 
 
 
 

 
 

 
 

 
 
Earnings Before Provision for Taxes on Income
$
13,775

 
$
12,361

 
$
16,947

 
$
15,755

 
$
16,929

 
 
Fixed Charges, less Capitalized Interest
657

 
675

 
555

 
558

 
538

 
 
Total Earnings as Defined
$
14,432

 
$
13,036

 
$
17,502

 
$
16,313

 
$
17,467

 
 
Fixed Charges:
 
 
 
 
 

 
 

 
 

 
 
Estimated Interest Portion of Rent Expense
125

 
104

 
100

 
107

 
103

 
 
Interest Expense before Capitalization of Interest
647

 
655

 
528

 
552

 
583

 
 
Total Fixed Charges
$
772

 
$
759

 
$
628

 
$
659

 
$
686

 
 
Ratio of Earnings to Fixed Charges
18.69

 
17.18

 
27.87

 
24.75

 
25.46

 
 
_______________________________________
(1) 
The ratio of earnings to fixed charges is computed by dividing the sum of earnings before provision for taxes on income and fixed charges by fixed charges. Fixed charges represent interest expense (before interest is capitalized), amortization of debt discount and an appropriate interest factor on operating leases.