EX-12 7 fy2013exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FY2013 Exhibit 12


EXHIBIT (12)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
Amounts in millions

 Years ended June 30
2013
  
2012
  
2011
  
2010
  
2009
EARNINGS, AS DEFINED
 
  
 
  
 
  
 
  
 
Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees
$
14,934

  
$
12,792

  
$
15,021

  
$
14,881

  
$
14,275

Fixed charges (excluding capitalized interest)
899

  
1,000

  
1,052

  
1,167

  
1,576

TOTAL EARNINGS, AS DEFINED
15,833

  
13,792

  
16,073

  
16,048

  
15,851

 
 
 
 
 
 
FIXED CHARGES, AS DEFINED
 
  
 
  
 
  
 
  
 
Interest expense (including capitalized interest)
$
754

  
$
844

  
$
888

  
$
1,014

  
$
1,431

1/3 of rental expense
171

  
176

  
170

  
176

  
177

TOTAL FIXED CHARGES, AS DEFINED
925

  
1,020

  
1,058

  
1,190

  
1,608

 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
17.1x
  
 13.5x
  
 15.2x
  
 13.5x
  
 9.9x