EX-12 4 y06203exv12.txt STATEMENT OF COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 JOHNSON & JOHNSON AND SUBSIDIARIES STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1) (DOLLARS IN MILLIONS)
FISCAL YEAR ENDED ---------------------------------------------------------------------- JANUARY 2, DECEMBER 28, DECEMBER 29, DECEMBER 30, DECEMBER 31, 2005 2003 2002 2001 2000 ---------- ------------ ------------ ------------ ------------ Determination of Earnings: Earnings Before Provision for Taxes on Income............. $12,838 $10,308 9,291 7,898 6,868 Fixed Charges.................. 272 300 259 245 292 ------- ------- ----- ----- ----- Total Earnings as Defined.............. $13,110 $10,608 9,550 8,143 7,160 ======= ======= ===== ===== ===== Fixed Charges and Other: Rents.......................... 85 93 99 92 88 Interest Expense Before Capitalization of Interest.................... 323 315 258 248 301 ------- ------- ----- ----- ----- Total Fixed Charges.... $ 408 $ 408 357 340 389 ======= ======= ===== ===== ===== Ratio of Earnings to Fixed Charges........................ 32.13 26.00 26.75 23.95 18.41 ======= ======= ===== ===== =====
--------------- (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.