EX-12 3 y86310kexv12.htm EX-12 exv12
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,
 		    January 3,
 		    December 28,
 		    December 30,
 		    December 31,
 		 
    2011     2010     2008     2007     2006  
 
Determination of Earnings:
                                       
Earnings Before Provision for Taxes on Income
  $ 16,947     $ 15,755     $ 16,929     $ 13,283     $ 14,587  
Fixed Charges, less Capitalized Interest
    555       558       538       397       158  
                                         
Total Earnings as Defined
  $ 17,502     $ 16,313     $ 17,467     $ 13,680     $ 14,745  
                                         
Fixed Charges:
                                       
Estimated Interest Portion of Rent Expense
    100       107       103       101       95  
Interest Expense before Capitalization of Interest
    528       552       583       426       181  
                                         
Total Fixed Charges
  $ 628     $ 659     $ 686     $ 527     $ 276  
                                         
Ratio of Earnings to Fixed Charges
    27.87       24.75       25.46       25.96       53.42  
                                         
(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.