EX-12 3 y47910exv12.htm EX-12: STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12
 

 
EXHIBIT 12
 
JOHNSON & JOHNSON AND SUBSIDIARIES
 
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)
(Dollars in Millions)
 
                                         
    Fiscal Year Ended  
    December 30,
 		    December 31,
 		    January 1,
 		    January 2,
 		    December 28,
 		 
    2007     2006     2006     2005     2003  
 
Determination of Earnings:
                                       
Earnings Before Provision for Taxes on Income
  $ 13,283     $ 14,587     $ 13,116     $ 12,331     $ 9,771  
Fixed Charges
    397       158       137       272       300  
                                         
Total Earnings as Defined
  $ 13,680     $ 14,745     $ 13,253     $ 12,603     $ 10,071  
                                         
Fixed Charges and Other:
                                       
Rents
    101       95       83       85       93  
Interest Expense Before Capitalization of Interest
    426       181       165       323       315  
                                         
Total Fixed Charges
  $ 527     $ 276     $ 248     $ 408     $ 408  
                                         
Ratio of Earnings to Fixed Charges
    25.96       53.42       53.44       30.89       24.68  
                                         
(1)  The ratio of earnings to fixed charges is computed by dividing the sum of earnings before provision for taxes on income and fixed charges by fixed charges. Fixed charges represent interest expense (before interest is capitalized), amortization of debt discount and an appropriate interest factor on operating leases.