EX-12 5 d341505dex12.htm EX-12 EX-12

EXHIBIT 12

JOHNSON & JOHNSON AND SUBSIDIARIES

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)

(Dollars in Millions)

 

     January 1,
2017		      January 3,
2016		      December 28,
2014		      December 29,
2013		      December 30,
2012		  

Determination of Earnings:

               

Earnings Before Provision for Taxes on Income

    $ 19,803      $ 19,196      $ 20,563      $ 15,471      $ 13,775  

Fixed Charges, less Capitalized Interest

      836        657        647        603        657  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Earnings as Defined

    $ 20,639      $ 19,853      $ 21,210      $ 16,074      $ 14,432  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed Charges:

               

Estimated Interest Portion of Rent Expense

      110        105        114        121        125  

Interest Expense before Capitalization of Interest

      828        654        648        587        647  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Fixed Charges

    $ 938      $ 759      $ 762      $ 708      $ 772  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of Earnings to Fixed Charges

      22.00        26.16        27.83        22.70        18.69  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(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.