EXHIBIT 12

THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Years Ended June 30										Nine Months Ended March 31
Amounts in millions	2009		2008		2007		2006		2005		2010		2009
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	$	14,461	$	14,927	$	13,698	$	11,658	$	9,128	$	12,387	$	11,399
Fixed charges (excluding amortization capitalized interest)		1,576		1,640		1,458		1,268		948		900		1,162
TOTAL EARNINGS, AS DEFINED	$	16,037	$	16,567	$	15,156	$	12,926	$	10,076	$	13,287	$	12,561
FIXED CHARGES, AS DEFINED
Interest expense (including capitalized interest)	$	1,431	$	1,546	$	1,374	$	1,153	$	869	$	785	$	1,083
1/3 of rental expense		177		137		124		122		90		133		103
TOTAL FIXED CHARGES, AS DEFINED	$	1,608	$	1,683	$	1,498	$	1,275	$	959	$	918	$	1,186
RATIO OF EARNINGS TO FIXED CHARGES		10.0x		9.8x		10.1x		10.1x		10.5x		14.5x		10.6x