EX-12 4 ond04x12.txt EX 12 - OND 2004 EXHIBIT (12) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES --------------------------------------------- COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ------------------------------------------------- Amounts in millions
Six Months Ended Years Ended June 30 December 31 -------------------------------------------------------- -------------------- 2000 2001 2002 2003 2004 2003 2004 -------- -------- -------- -------- -------- -------- -------- EARNINGS, AS DEFINED Earnings from operations before income taxes and before adjustments for minority interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees $ 5,474 $ 4,574 $ 6,442 $ 7,760 $ 9,454 $ 5,272 $ 5,850 Fixed charges 811 872 687 657 719 340 428 -------- -------- -------- -------- -------- -------- -------- TOTAL EARNINGS, AS DEFINED $ 6,285 $ 5,446 $ 7,129 $ 8,417 $ 10,173 $ 5,612 $ 6,278 ======== ======== ======== ======== ======== ======== ======== FIXED CHARGES, AS DEFINED Interest expense $ 792 $ 794 $ 603 $ 561 $ 629 $ 290 $ 381 1/3 of rental expense 89 78 84 96 90 50 47 -------- -------- -------- -------- -------- -------- -------- TOTAL FIXED CHARGES, AS DEFINED $ 881 $ 872 $ 687 $ 657 $ 719 $ 340 $ 428 ======== ======== ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 7.1 6.2 10.4 12.8 14.1 16.5 14.7