EX-12 14 x12.htm EXHIBIT 12 - 10-Q JAS 2006 Exhibit 12 - 10-Q JAS 2006
 
                 
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Millions of Dollars
 
 
 
 
 
 
  
 
 
             
Three Months Ended
 
Years Ended June 30
  
September 30
                 
 
2002
2003
2004
2005
2006
  
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
  
$ 5,837
 
$ 7,219
 
$ 9,010
 
$ 9,954
 
$ 12,419
   
$ 2,897
 
$ 3,863
 
 
 
 
 
 
  
 
 
Fixed charges (excluding capitalized interest)
687
657
719
924
1,242
 
242
398
                 
TOTAL EARNINGS,
AS DEFINED
$ 6,524
$ 7,876
$ 9,729
$ 10,878
$ 13,661
 
$ 3,139
$ 4,261
                 
FIXED CHARGES, AS DEFINED
                
Interest expense
(including capitalized interest)
$    603
$    561
$    629
$    869
$   1,153
 
$    228
$    373
1/3 of rental expense
84
96
90
90
122
 
23
32
                 
TOTAL FIXED CHARGES,
AS DEFINED
$    687
$    657
$    719
$    959
$   1,275
 
$    251
$    405
                 
RATIO OF EARNINGS
TO FIXED CHARGES
9.5x
12.0x
13.5x
11.3x
10.7x
 
12.5x
10.5x