GSK (GSK) F-3ASR Automatic shelf registration (foreign)

EXHIBIT 12

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Year ended December 31,
	2007		2006		2005		2004		2003
	(in £ millions)
Earnings:
Profit before taxation (after eliminating our share of profits of associates and joint ventures)		7,402		7,743		6,680		5,570		5,897
Add: fixed charges		498		394		490		404		321
Add: distributed income of income from equity investees		12		15		10		11		1
Less: preference security dividend		—		—		—		3		17
Less: minority interest in pre-tax income		3		1		1		1		1
Total earnings		7,909		8,151		7,179		5,981		6,201
Fixed charges:
Interest expense		453		352		451		362		254
Interest within rental expense (1/3 of rentals)		45		42		39		39		50
Preference security dividend		—		—		—		3		17
Total fixed charges		498		394		490		404		321
Ratio of Earnings to Fixed Charges		15.9		20.7		14.7		14.8		19.3