Exhibit 12

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Statements of Computation of Ratio of Earnings to Fixed Charges⁽¹⁾

	Nine months ended July 31, 2013			Fiscal years ended October 31
				2012			2011		2010		2009		2008
	In millions, except ratios
Earnings (loss):
Earnings (loss) before taxes	$	4,690		$	(11,933	)	$	8,982	$	10,974	$	9,415	$	10,473
Adjustments:
Non-controlling interests in the income of subsidiaries with fixed charges		51			102			75		108		74		17
Undistributed (earnings) loss of equity method investees		(3	)		(2	)		3		12		2		—
Fixed charges		889			1,297			1,027		868		1,098		1,147
	$	5,627		$	(10,536	)	$	10,087	$	11,962	$	10,589	$	11,637
Fixed charges:
Total interest expense, including interest expense on borrowings, amortization of debt discount and premium on all indebtedness and other	$	593		$	865		$	551	$	417	$	585	$	467
Interest included in rent		296			432			476		451		513		680
Total fixed charges	$	889		$	1,297		$	1,027	$	868	$	1,098	$	1,147
Ratio of earnings to fixed charges (excess of fixed charges over earnings)		6.3x		$	(11,833	)		9.8x		13.8x		9.6x		10.1x

⁽¹⁾

HP computed the ratio of earnings to fixed charges by dividing earnings (earnings before taxes, adjusted for fixed charges, non-controlling interests in the income of subsidiaries with fixed charges and undistributed earnings or loss of equity method investees) by fixed charges for the periods indicated. Fixed charges include (i) interest expense on borrowings and amortization of debt discount or premium on all indebtedness and other, and (ii) a reasonable approximation of the interest factor deemed to be included in rent expense.