(In millions, except ratios)

Year Ended June 30,

2017

2016

2015

2014

2013

Earnings ^(a)

Earnings from continuing operations before income taxes

$

  23,149

$

  19,751

$

  18,507

$

  27,820

$

  27,052

Add: Fixed charges

2,324

1,326

867

674

489

Add: Cash distributions from equity method investments

12

12

1

54

71

Subtract: Loss from equity method investments

(14

)

(25

)

(78

)

(152

)

(99

)

Total Earnings

$

25,499

$

21,114

$

19,453

$

28,700

$

27,711

Fixed Charges ^(b)

Interest expense

$

2,141

$

1,185

$

756

$

577

$

394

Capitalized debt related expenses

81

58

25

20

35

Interest component of rental expense

102

82

86

77

60

Total Fixed Charges

$

2,324

$

1,325

$

867

$

674

$

489

Ratio of Earnings to Fixed Charges

11

16

22

43

57

(a)

Earnings represent earnings from continuing operations before income taxes and before income (losses) from equity method investments plus: (1) fixed charges; and (2) cash distributions from equity method investments.

(b)

Fixed charges include: (1) interest expense; (2) capitalized debt issuance costs; and (3) the portion of operating rental expense which management believes is representative of the interest component of rental expense.