EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of ratio of earnings to fixed charges

EXHIBIT (12)

THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

Amounts in millions

 

     Years Ended June 30
     2010    2009    2008    2007    2006

EARNINGS, AS DEFINED

               

Earnings from operations before income taxes and before adjustments for noncontrolling interests in consolidated subsidiaries and after eliminating undistributed earnings of equity method investees

    $ 15,169    $ 14,461    $ 14,927    $ 13,698    $ 11,658

Fixed charges (excluding capitalized interest)

      1,167      1,576      1,640      1,458      1,268
                                  

TOTAL EARNINGS, AS DEFINED

    $ 16,336    $ 16,037    $ 16,567    $ 15,156    $ 12,926
                                  

FIXED CHARGES, AS DEFINED

               

Interest expense (including capitalized interest)

    $ 1,014    $ 1,431    $ 1,546    $ 1,374    $ 1,153

 1/3 of rental expense

      176      177      137      124      122
                                  

TOTAL FIXED CHARGES, AS DEFINED

    $ 1,190    $ 1,608    $ 1,683    $ 1,498    $ 1,275
                                  

RATIO OF EARNINGS TO FIXED CHARGES

      13.7x      10.0x      9.8x      10.1x      10.1x