Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| (In millions, except ratios) | Six Months Ended |
Fiscal Year Ended June 30, |
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| 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||||
| Earnings (1) : |
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| Earnings from continuing operations before income taxes |
$ | 13,648 | $ | 19,821 | $ | 23,814 | $ | 20,101 | $ | 18,262 | $ | 16,628 | ||||||||||||||
| Add: Fixed charges |
104 | 88 | 151 | 271 | 331 | 247 | ||||||||||||||||||||
| Add: Cash distributions from equity method investments |
8 | 85 | 10 | — | 51 | 11 | ||||||||||||||||||||
| Subtract: Income from equity method investments |
11 | 81 | 62 | 62 | (161 | ) | 19 | |||||||||||||||||||
| Total Earnings |
$ | 13,749 | $ | 19,913 | $ | 23,913 | $ | 20,310 | $ | 18,805 | $ | 16,867 | ||||||||||||||
| Fixed Charges (2) : |
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| Interest expense |
$ | 74 | $ | 38 | $ | 106 | $ | 230 | $ | 295 | $ | 209 | ||||||||||||||
| Capitalized debt related expenses |
2 | — | — | — | — | — | ||||||||||||||||||||
| Interest component of rent expense |
28 | 50 | 45 | 41 | 36 | 38 | ||||||||||||||||||||
| Total Fixed Charges |
$ | 104 | $ | 88 | $ | 151 | $ | 271 | $ | 331 | $ | 247 | ||||||||||||||
| Ratio of Earnings to Fixed Charges |
132 | 226 | 158 | 75 | 57 | 68 | ||||||||||||||||||||
| (1) | Earnings represent earnings from continuing operations before income taxes and before income (losses) from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments. |
| (2) | Fixed charges include: (a) interest expense; (b) capitalized debt issuance costs; and (c) the portion of operating rental expense which management believes is representative of the interest component of rent expense. |