Exhibit 12 The Gillette Company Ratio of Earnings to Fixed Charges Dollars in millions 2002 2001 2000 1999 1998 ------- ------- -------- -------- -------- Earnings: Income from continuing operations before income taxes $ 1,752 1,342 1,288 1,912 1,656 Interest expense 84 145 223 136 94 Interest portion of rental expense 43 31 25 20 17 Amortization of capitalized interest 10 9 6 5 4 -------- --------- -------- -------- -------- Earnings available for fixed charges $ 1,889 1,527 1,542 2,073 1,771 ======== ========= ======== ======== ======== Fixed Charges: Interest expense $ 84 145 223 136 94 Interest capitalized 4 11 23 13 18 Interest portion of rental expense 43 31 25 20 17 -------- --------- -------- -------- -------- Total fixed charges $ 131 187 271 169 129 ======== ========= ======== ======== ======== Ratio of Earnings to Fixed Charges 14.5 8.2 5.7 12.3 13.7 ======== ========= ======== ======== ========