EX-12 5 jas13exhibit12.htm RATIO OF EARNINGS TO FIXED CHARGES JAS 13 Exhibit 12


EXHIBIT 12
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Years Ended June 30
 
Three Months Ended September 30
 
2013
 
2012
 
2011
 
2010
 
2009
 
2013
 
2012
EARNINGS, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees
$
14,934

 
$
12,792

 
$
15,021

 
$
14,881

 
$
14,275

 
$
3,979

 
$
3,793

Fixed charges (excluding capitalized interest)
899

 
1,000

 
1,052

 
1,167

 
1,576

 
218

 
230

TOTAL EARNINGS, AS DEFINED
$
15,833

 
$
13,792

 
$
16,073

 
$
16,048

 
$
15,851

 
$
4,197

 
$
4,023

FIXED CHARGES, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including capitalized interest)
$
754

 
$
844

 
$
888

 
$
1,014

 
$
1,431

 
$
185

 
$
192

1/3 of rental expense
171

 
176

 
170

 
176

 
177

 
42

 
43

TOTAL FIXED CHARGES, AS DEFINED
$
925

 
$
1,020

 
$
1,058

 
$
1,190

 
l,608

 
$
227

 
$
235

RATIO OF EARNINGS TO FIXED CHARGES
17.1x

 
13.5x

 
 15.2x

 
 13.5x

 
 9.9x

 
18.5x

 
17.1x