Exhibit 12 The Gillette Company Ratio of Earnings to Fixed Charges Nine months Nine months Dollars in millions ended ended September 30, 2004 September 30, 2003 2003 2002 2001 2000 1999 --------------- ------------------ ----- ----- ----- ----- ----- Earnings: Income from continuing operations before income taxes $ 1,801 1,452 1,964 1,752 1,342 1,288 1,912 Interest expense 37 43 54 84 145 223 136 Interest portion of rental expense 31 33 41 43 31 25 20 Amortization of capitalized interest 7 8 10 10 9 6 5 ----- ----- ----- ----- ----- ----- ----- Earnings available for fixed charges $ 1,876 1,536 2,069 1,889 1,527 1,542 2,073 ===== ===== ===== ===== ===== ===== ===== Fixed Charges: Interest expense $ 37 43 54 84 145 223 136 Interest capitalized 1 1 2 4 11 23 13 Interest portion of rental expense 31 33 41 43 31 25 20 ----- ----- ----- ----- ----- ----- ----- Total fixed charges $ 69 77 97 131 187 271 169 ===== ===== ===== ===== ===== ===== ===== Ratio of Earnings to Fixed Charges 27.0 20.0 21.4 14.5 8.2 5.7 12.3 ===== ===== ===== ===== ===== ===== =====