EX-12 3 exhibit_12.htm RATIO OF EARNINGS TO FIXED CHARGES exhibit_12.htm

Exhibit 12
 
 
WALGREEN CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 

    Three Months Ended  
   
11/30/2009
    
11/30/2008
  
Income before income taxes and minority interest
   $ 776     $ 654  
Add:
                
Minority interest
     -       -  
Fixed charges
     264       237  
Less: Capitalized interest
     (3 )     (5 )
Earnings as defined
   $ 1,037     $ 886  
                 
Interest expense, net of capitalized interest
   $ 22     $ 16  
Capitalized interest
     3       5  
Portions of rentals representative of the interest factor
     239       216  
Fixed charges as defined
   $ 264     $ 237  
                 
Ratio of earnings to fixed charges
     3.93       3.74