EX-12 9 y74152exv12.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 28,
 		    December 30,
 		    December 31,
 		    January 1,
 		    January 2,
 		 
    2008     2007     2006     2006     2005  
 
Determination of Earnings:
                                       
Earnings Before Provision for Taxes on Income
  $ 16,929     $ 13,283     $ 14,587     $ 13,116     $ 12,331  
Fixed Charges
    538       397       158       137       272  
                                         
Total Earnings as Defined
  $ 17,467     $ 13,680     $ 14,745     $ 13,253     $ 12,603  
                                         
Fixed Charges and Other:
                                       
Rents
    103       101       95       83       85  
Interest Expense Before Capitalization of Interest
    583       426       181       165       323  
                                         
Total Fixed Charges
  $ 686     $ 527     $ 276     $ 248     $ 408  
                                         
Ratio of Earnings to Fixed Charges
    25.46       25.96       53.42       53.44       30.89  
                                         
(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.