Let A be a ring, R an A-algebra, A′ the integral closure of A in R and S a multiplicative subset of A. Then the integral closure of S−1A in S−1R is S−1A′.
Let b/s be an element of S−1A′ (s∈S,b∈A′). Since the diagram
A↓hRiASiRSS−1A↓S−1hS−1R
is commutative, b/1 is integral over S−1A (no. 1, Proposition 2). As 1/s∈S−1A, b/s=(b/1)(1/s) is integral over S−1A.
Conversely, let r/t(r∈R,t∈S) be an element of S−1R which is integral over S−1A; then r/1=(t/1)(r/t) is integral over S−1A. Then there is a relation of the form
(r/1)n+(a1/s)(r/1)n−1+⋯+(an/s)=0,
where ai∈A(1≤i≤n) and s∈S. This relation may also be written
(srn+a1rn−1+…+an)/s=0
and therefore there exists s′∈S such that s′n(srn+a1rn−1+…+an)=0; we deduce that (s′sr)n+s′a1(s′sr)n−1+…+s′nsn−1an=0. By definition therefore s′sr∈A′, whence r/1∈S−1A′ and r/t∈S−1A′.
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.