EX-12 13 fy2012exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FY2012 Exhibit 12


EXHIBIT (12)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
Amounts in millions

 
Years Ended June 30
 
2012
  
2011
  
2010
  
2009
  
2008
EARNINGS, AS DEFINED
 
  
 
  
 
  
 
  
 
Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees
$
12,792

  
$
15,021

  
$
14,881

  
$
14,275

  
$
14,692

Fixed charges (excluding capitalized interest)
1,000

  
1,052

  
1,167

  
1,576

  
1,640

TOTAL EARNINGS, AS DEFINED
$
13,792

  
$
16,073

  
$
16,048

  
$
15,851

  
$
16,332

 
 
 
 
 
 
FIXED CHARGES, AS DEFINED
 
  
 
  
 
  
 
  
 
Interest expense (including capitalized interest)
$
844

  
$
888

  
$
1,014

  
$
1,431

  
$
1,546

1/3 of rental expense
176

  
170

  
176

  
177

  
137

TOTAL FIXED CHARGES, AS DEFINED
$
1,020

  
$
1,058

  
$
1,190

  
l,608

  
$
1,683

 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 13.5x
  
 15.2x
  
 13.5x
  
 9.9x
  
 9.7x