EX-12 6 l96166aexv12.txt EX.12 COMPUT. OF RATIO OF EARNINGS TO FIXED CHRGS EXHIBIT (12) THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges Millions of Dollars
Years Ended June 30 ------------------------------------------------------ 1998 1999 2000 2001 2002 ------ ------ ------ ------ ------ EARNINGS AS DEFINED Earnings from operations before income taxes after eliminating undistributed earnings of equity method investees $5,704 $5,866 $5,474 $4,574 $6,442 Fixed charges 639 751 811 872 687 ------ ------ ------ ------ ------ TOTAL EARNINGS, AS DEFINED $6,343 $6,617 $6,285 $5,446 $7,129 ====== ====== ====== ====== ====== FIXED CHARGES, AS DEFINED Interest expense $ 548 $ 650 $ 792 $ 794 $ 603 1/3 of rental expense 91 101 89 78 84 ------ ------ ------ ------ ------ TOTAL FIXED CHARGES, AS DEFINED $ 639 $ 751 $ 881 $ 872 $ 687 ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES 9.9 8.8 7.1 6.2 10.4