EX-12 5 d281803dex12.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

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,
2012		      January 2,
2011		      January 3,
2010		      December 28,
2008		      December 30,
2007		  

Determination of Earnings:

               

Earnings Before Provision for Taxes on Income

    $ 12,361       $ 16,947       $ 15,755       $ 16,929       $ 13,283   

Fixed Charges, less Capitalized Interest

      675         555         558         538         397   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Earnings as Defined

    $ 13,036       $ 17,502       $ 16,313       $ 17,467       $ 13,680   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed Charges:

               

Estimated Interest Portion of Rent Expense

      104         100         107         103         101   

Interest Expense before Capitalization of Interest

      655         528         552         583         426   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Fixed Charges

    $ 759       $ 628       $ 659       $ 686       $ 527   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of Earnings to Fixed Charges

      17.18         27.87         24.75         25.46         25.96   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(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.