EX-12 4 y17887exv12.htm EX-12: STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12
 

EXHIBIT 12

JOHNSON & JOHNSON AND SUBSIDIARIES

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)

(Dollars in Millions)
                                             
Fiscal Year Ended
January 1, January 2, December 28, December 29, December 30,
2006 2005 2003 2002 2001
Determination of Earnings:
                                       
 
Earnings Before Provision for Taxes on Income
  $ 13,656       12,838       10,308       9,291       7,898  
 
Fixed Charges
    137       272       300       259       245  
     
     
     
     
     
 
   
Total Earnings as Defined
  $ 13,793       13,110       10,608       9,550       8,143  
     
     
     
     
     
 
Fixed Charges and Other:
                                       
 
Rents
    83       85       93       99       92  
 
Interest Expense Before Capitalization of Interest
    165       323       315       258       248  
     
     
     
     
     
 
   
Total Fixed Charges
  $ 248       408       408       357       340  
     
     
     
     
     
 
Ratio of Earnings to Fixed Charges
    55.62       32.13       26.00       26.75       23.95  
     
     
     
     
     
 
(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.