Bristol-Myers Squibb (BMY) 10-Q2012 Q3 Quarterly report

Filed: 24 Oct 12, 12:00am

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New words: academic, acetate, acknowledged, African, agonist, Alabama, amylinomimetic, analog, andBydureon, andByetta, andIxempra, andPlavix, assigned, began, borne, Bydureon, Byetta, competing, complement, concerningPlavix, conform, convertible, coordinated, Council, dacarbazine, death, deemed, denial, disruption, essentially, exenatide, FPG, harm, hypertriglyceridemia, inherited, injectable, intent, inThe, Iowa, labeling, Lancet, leptine, lipodystrophy, loan, Louisiana, lump, maximum, mealtime, metreleptin, notification, NVAF, ofByetta, ofForxiga, ofOrenciain, path, pattern, Portuguese, PPG, pramlintide, predetermined, predict, pretax, promissory, redeem, redemption, repaid, resubmission, rollover, senior, suffered, suspension, thatOnglyza, theAvalide, thereof, threshold, toByetta, toSymlin, transition, transitioned, unsecured, unvested, usingByetta, vast, voluntarily, withYervoy, World, wrongful

Removed: adjunct, cover, diet, effect, evaluate, executed, expire, Identifiable, improving, launch, line, lung, measure, obsolescence, post, present, recently, scientific, shutdown, standardization, sufficient, uncertain, unit

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EXHIBIT 12.

Computation of Earnings to Fixed Charges


Ratio of Earnings to Fixed Charges:	Nine Months Ended September 30, 2012		Year Ended December 31,
Ratio of Earnings to Fixed Charges:	Nine Months Ended September 30, 2012		2011		2010		2009		2008
Dollars in Millions
Earnings
Earnings from continuing operations before income taxes	$	1,827	$	6,981	$	6,071	$	5,602	$	4,776
Less:
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges		847		2,323		2,074		1,717		1,444
Equity in net income of affiliates		150		281		313		550		617
Capitalized interest		—		—		8		13		21

Adjusted income		830		4,377		3,676		3,322		2,694
Add:
Fixed charges		165		190		201		242		387
Distributed income of equity investments		183		283		313		550		590

Total Earnings	$	1,178	$	4,850	$	4,190	$	4,114	$	3,671


Fixed Charges
Interest expense	$	131	$	145	$	145	$	184	$	310
Capitalized interest		—		—		8		13		21
One-third of rental expense⁽¹⁾		34		45		48		45		56

Total Fixed Charges	$	165	$	190	$	201	$	242	$	387


Ratio of Earnings to Fixed Charges		7.14		25.53		20.85		17.00		9.49

(1)	Rents included in the computation consist of one-third of rental expense which the Company believes to be a reasonable estimate of an interest factor in its leases.

E-12-1

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