EX-12 5 jfm06x12.txt 10-Q JFM 2006 - EXHIBIT 12
EXHIBIT (12) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES --------------------------------------------- COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ------------------------------------------------- Amounts in millions Nine Months Ended Years Ended June 30 March 31 ----------------------------------------------- ----------------- 2001 2002 2003 2004 2005 2005 2006 ------- ------- ------- ------- ------- ------- ------- 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 $ 4,098 $ 5,837 $ 7,219 $ 9,010 $ 9,954 $ 8,038 $ 9,735 Fixed charges (excluding capitalized interest) 872 687 657 719 924 666 918 ------- ------- ------- ------- ------- ------- ------- TOTAL EARNINGS, AS DEFINED $ 4,970 $ 6,524 $ 7,876 $ 9,729 $10,878 $ 8,704 $10,653 ======= ======= ======= ======= ======= ======= ======= FIXED CHARGES, AS DEFINED Interest expense (including capitalized interest) $ 794 $ 603 $ 561 $ 629 $ 869 $ 624 $ 843 1/3 of rental expense 78 84 96 90 90 70 98 ------- ------- ------- ------- ------- ------- ------- TOTAL FIXED CHARGES, AS DEFINED $ 872 $ 687 $ 657 $ 719 $ 959 $ 694 $ 941 ======= ======= ======= ======= ======= ======= ======= RATIO OF EARNINGS TO FIXED CHARGES 5.7x 9.5x 12.0x 13.5x 11.3x 12.5x 11.3x