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Exhibit 12
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Statements of Computation of Ratio of Earnings to Fixed Charges(1)
Fiscal years ended October 31
2013 2012 2011 2010 2009
In millions, except ratios
Earnings (loss):
Earnings (loss) before taxes ................. $6,510 $(11,933) $ 8,982 $10,974 $ 9,415
Adjustments:
Non-controlling interests in the income of
subsidiaries with fixed charges ............ 69 102 75 108 74
Undistributed (earnings) loss of equity method
investees ........................... (4) (2) 3 12 2
Fixed charges .......................... 1,162 1,297 1,027 868 1,098
$7,737 $(10,536) $10,087 $11,962 $10,589
Fixed charges:
Total interest expense, including interest expense
on borrowings, amortization of debt discount
and premium on all indebtedness and other .... $ 769 $ 865 $ 551 $ 417 $ 585
Interest included in rent .................... 393 432 476 451 513
Total fixed charges ......................... $1,162 $ 1,297 $ 1,027 $ 868 $ 1,098
Ratio of earnings to fixed charges (excess of fixed
charges over earnings) ..................... 6.7x $(11,833) 9.8x 13.8x 9.6x
(1) HP computed the ratio of earnings to fixed charges by dividing earnings (earnings before taxes,
adjusted for fixed charges, non-controlling interests in the income of subsidiaries with fixed charges
and undistributed earnings or loss of equity method investees) by fixed charges for the periods
indicated. Fixed charges include (i) interest expense on borrowings and amortization of debt
discount or premium on all indebtedness and other, and (ii) a reasonable approximation of the
interest factor deemed to be included in rent expense.