EX-12 4 ex12_063004-10q.txt EXHIBIT 12
Exhibit 12 The Gillette Company Ratio of Earnings to Fixed Charges Six months Six months Dollars in millions ended ended June 30, 2004 June 30, 2003 2003 2002 2001 2000 1999 --------------- --------------- ----- ----- ----- ----- ----- Earnings: Income from continuing operations before income taxes $ 1,131 859 1,964 1,752 1,342 1,288 1,912 Interest expense 23 30 54 84 145 223 136 Interest portion of rental expense 21 22 41 43 31 25 20 Amortization of capitalized interest 4 5 10 10 9 6 5 ----- ----- ----- ----- ----- ----- ----- Earnings available for fixed charges $ 1,179 916 2,069 1,889 1,527 1,542 2,073 ===== ===== ===== ===== ===== ===== ===== Fixed Charges: Interest expense $ 23 30 54 84 145 223 136 Interest capitalized 1 1 2 4 11 23 13 Interest portion of rental expense 21 22 41 43 31 25 20 ----- ----- ----- ----- ----- ----- ----- Total fixed charges $ 45 53 97 131 187 271 169 ===== ===== ===== ===== ===== ===== ===== Ratio of Earnings to Fixed Charges 26.2 17.3 21.4 14.5 8.2 5.7 12.3 ===== ===== ===== ===== ===== ===== =====