Procter & Gamble Co – ‘10-Q’ for 9/30/03 – EX-12

On:  Tuesday, 10/28/03, at 1:51pm ET   ·   For:  9/30/03   ·   Accession #:  80424-3-167   ·   File #:  1-00434

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report -- jas0310q                          14     73K 
 2: EX-11       Jas03 - 10-Q - Exhibit 11                              1      6K 
 3: EX-12       Jas03 - 10-Q - Exhibit 12                              1      8K 
 4: EX-31       Jas03 - 10-Q - Exhibit 31                              2     15K 
 5: EX-32       Jas03-10-Q - Exhibit 32                                2      9K 

EX-12   —   Jas03 – 10-Q – Exhibit 12

                                                        [Enlarge/Download Table]

                                                                  EXHIBIT (12)                                                  

                                                 THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES                                  
                                                 ---------------------------------------------                                  
                                               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES                                
                                               -------------------------------------------------                                
Amounts in millions                                                                                                             
                                                                                                            Three Months Ended  
                                                                       Years Ended June 30                     September 30     
                                                     ----------------------------------------------------   ------------------- 
                                                       1999       2000       2001       2002       2003       2002       2003   
                                                     --------   --------   --------   --------   --------   --------   -------- 
                                                                                                                                
EARNINGS, AS DEFINED                                                                                                            
--------------------                                                                                                            
  Earnings from operations before income taxes                                                                                  
    and before adjustments for minority interests                                                                               
    in consolidated subsidiaries and after                                                                                      
    eliminating undistributed earnings of equity                                                                                
    method investees                                 $ 5,866    $  5,474    $ 4,574    $ 6,442    $ 7,760    $ 2,278    $ 2,541 

  Fixed charges                                          751         811        872        687        657        166        166 
                                                     --------   ---------   --------   --------   --------   --------   --------
     TOTAL EARNINGS, AS DEFINED                      $ 6,617    $  6,285    $ 5,446    $ 7,129    $ 8,417    $ 2,444    $ 2,707 
                                                     ========   =========   ========   ========   ========   ========   ========

FIXED CHARGES, AS DEFINED                                                                                                       
-------------------------                                                                                                       
  Interest expense                                   $   650    $    792     $  794    $   603    $   561    $   144    $   141 
  1/3 of rental expense                                  101          89         78         84         96         22         25 
                                                     --------   ---------    -------   --------   --------   --------   --------
     TOTAL FIXED CHARGES, AS DEFINED                 $   751    $    881     $  872    $   687    $   657    $   166    $   166 
                                                     ========   =========   ========   ========   ========   ========   ========

     RATIO OF EARNINGS TO FIXED CHARGES                  8.8         7.1        6.2       10.4       12.8       14.7       16.3