Procter & Gamble Co – ‘10-Q’ for 12/31/02 – EX-12

On:  Wednesday, 1/29/03, at 4:20pm ET   ·   For:  12/31/02   ·   Accession #:  80424-3-4   ·   File #:  1-00434

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Ond'02-10Q                                            24     85K 
 2: EX-11       Ond'02 Ex11-Computation of Per Share Earnings          1      8K 
 3: EX-12       Ond'02 Ex99-Computation of Ratios                      1      7K 
 4: EX-99       Ond'02 Ex99-Ceo/CFO Certifications                     2      8K 

EX-12   —   Ond’02 Ex99-Computation of Ratios

                                                        [Enlarge/Download Table]

                                  EXHIBIT (12)                                                                                     

                  THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES                                                                    
--------------------------------------------------------------------------------                                                   
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES                                                                  
           ------------------------------------------------------------                                                            

Amounts in millions                                                                                                                

                                                                                                                Six Months Ended   
                                                                                Years Ended June 30                December 31     
                                                     -------------------------------------------------------  ---------------------
                                                        1998        1999        2000       2001       2002      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  $  3,520   $  4,403  

    Fixed charges                                          639         751         811        872        687       348        331  
                                                     ---------    --------    --------   --------   --------  --------   --------  
        TOTAL EARNINGS, AS DEFINED                   $   6,343    $  6,617    $  6,285   $  5,446   $  7,129  $  3,868   $  4,734  
                                                     =========    ========    ========   ========   ========  ========   ========  

FIXED CHARGES, AS DEFINED                                                                                                          
    Interest expense                                 $     548    $    650    $    792   $    794   $    603  $    307   $    287  
    1/3 of rental expense                                   91         101          89         78         84        41         44  
                                                     ---------    --------    --------   --------   --------  --------   --------  
        TOTAL FIXED CHARGES AS DEFINED               $     639    $    751    $    881   $    872   $    687  $    348   $    331  
                                                     =========    ========    ========   ========   ========  ========   ========  
        RATIO OF EARNINGS TO FIXED CHARGES                 9.9         8.8         7.1        6.2       10.4      11.1       14.3