EX-12 7 ond12exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES OND 12 Exhibit 12


EXHIBIT 12
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Years Ended June 30
 
Six Months Ended December 31
 
2012
 
2011
 
2010
 
2009
 
2008
 
2012
 
2011
EARNINGS, AS DEFINED
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings from operations before income taxes and after eliminating undistributed earnings of equity method investees
$
12,792

 
$
15,021

 
$
14,881

 
$
14,275

 
$
14,692

 
$
9,171

 
$
6,765

Fixed charges (excluding capitalized interest)
1,000

 
1,052

 
1,167

 
1,576

 
1,640

 
457

 
524

TOTAL EARNINGS, AS DEFINED
$
13,792

 
$
16,073

 
$
16,048

 
$
15,851

 
$
16,332

 
$
9,628

 
$
7,289

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

 
$
888

 
$
1,014

 
$
1,431

 
$
1,546

 
$
383

 
$
445

1/3 of rental expense
176

 
170

 
176

 
177

 
137

 
86

 
88

TOTAL FIXED CHARGES, AS DEFINED
$
1,020

 
$
1,058

 
$
1,190

 
l,608

 
$
1,683

 
$
469

 
$
533

RATIO OF EARNINGS TO FIXED CHARGES
13.5x

 
 15.2x

 
 13.5x

 
 9.9x

 
 9.7x

 
20.5x

 
13.7x