EX-12 3 y29901exv12.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
December 31, January 1, January 2, December 28, December 29,
2006 2006 2005 2003 2002
Determination of Earnings:
                                       
 
Earnings Before Provision for Taxes on Income
  $ 14,587     $ 13,116       12,331       9,771       8,799  
 
Fixed Charges
    158       137       272       300       259  
     
     
     
     
     
 
   
Total Earnings as Defined
  $ 14,745     $ 13,253       12,603       10,071       9,058  
     
     
     
     
     
 
Fixed Charges and Other:
                                       
 
Rents
    95       83       85       93       99  
 
Interest Expense Before Capitalization of Interest
    181       165       323       315       258  
     
     
     
     
     
 
   
Total Fixed Charges
  $ 276     $ 248       408       408       357  
     
     
     
     
     
 
Ratio of Earnings to Fixed Charges
    53.42       53.44       30.89       24.68       25.37  
     
     
     
     
     
 
(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.