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EXHIBIT 12
THE GILLETTE COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
SIX MONTHS SIX MONTHS
Dollars in millions ENDED ENDED
JUNE 30, 2005 JUNE 30, 2004
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EARNINGS:
Income from continuing operations before income taxes $ 1,318 1,131
Interest expense 35 23
Interest portion of rental expense 17 21
Amortization of capitalized interest 5 4
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Earnings available for fixed charges $ 1,375 1,179
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FIXED CHARGES:
Interest expense $ 35 23
Interest capitalized 3 1
Interest portion of rental expense 17 21
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Total fixed charges $ 55 45
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RATIO OF EARNINGS TO FIXED CHARGES 25.0 26.2
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Dollars in millions
2004 2003 2002 2001 2000
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EARNINGS:
Income from continuing operations before income taxes 2,384 1,964 1,752 1,342 1,288
Interest expense 54 54 84 145 223
Interest portion of rental expense 36 41 43 31 25
Amortization of capitalized interest 9 10 10 9 6
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Earnings available for fixed charges 2,483 2,069 1,889 1,527 1,542
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FIXED CHARGES:
Interest expense 54 54 84 145 223
Interest capitalized 4 2 4 11 23
Interest portion of rental expense 36 41 43 31 25
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Total fixed charges 94 97 131 187 271
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RATIO OF EARNINGS TO FIXED CHARGES 26.4 21.4 14.5 8.2 5.7
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