EX-12 6 jas11exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES JAS 11 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
 
2011
 
2010
 
2009
 
2008
 
2007
 
2011
 
2010
EARNINGS, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from operations before income taxes and before adjustments for noncontrolling interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees
$
15,343

 
$
15,169

 
$
14,461

 
$
14,927

 
$
13,698

 
$
4,080

 
$
4,287

Fixed charges (excluding capitalized interest)
1,052

 
1,167

 
1,576

 
1,640

 
1,458

 
267

 
259

TOTAL EARNINGS, AS DEFINED
$
16,395

 
$
16,336

 
$
16,037

 
$
16,567

 
$
15,156

 
$
4,347

 
$
4,546

FIXED CHARGES, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (including capitalized interest)
$
888

 
$
1,014

 
$
1,431

 
$
1,546

 
$
1,374

 
$
225

 
$
222

1/3 of rental expense
170

 
176

 
177

 
137

 
124

 
47

 
38

TOTAL FIXED CHARGES, AS DEFINED
$
1,058

 
$
1,190

 
l,608

 
$
1,683

 
$
1,498

 
$
272

 
$
260

RATIO OF EARNINGS TO FIXED CHARGES
15.5x

 
13.7x

 
10.0x

 
9.8x

 
10. 1x

 
 16.0x

 
17.5x