Exhibit 12.1
AbbVie Inc.
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
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| Six months |
| Years ended December 31, |
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(in millions, except for ratio) |
| 2018 |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
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Determination of earnings: |
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Earnings before income tax |
| $ | 4,809 |
| $ | 7,727 |
| $ | 7,884 |
| $ | 6,645 |
| $ | 2,369 |
| $ | 5,332 |
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Add (deduct): |
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Fixed charges |
| 665 |
| 1,222 |
| 1,222 |
| 923 |
| 476 |
| 343 |
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Interest capitalized during period |
| (3 | ) | (5 | ) | (112 | ) | (143 | ) | — |
| 3 |
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Total earnings as defined |
| $ | 5,471 |
| $ | 8,944 |
| $ | 8,994 |
| $ | 7,425 |
| $ | 2,845 |
| $ | 5,678 |
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Fixed charges: |
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Interest expense |
| $ | 629 |
| $ | 1,150 |
| $ | 1,155 |
| $ | 860 |
| $ | 429 |
| $ | 299 |
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Capitalized interest |
| 8 |
| 16 |
| 14 |
| 14 |
| 11 |
| 8 |
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Rent expense (a) |
| 28 |
| 56 |
| 53 |
| 49 |
| 36 |
| 36 |
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Total fixed charges |
| $ | 665 |
| $ | 1,222 |
| $ | 1,222 |
| $ | 923 |
| $ | 476 |
| $ | 343 |
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Ratio of earnings to fixed charges |
| 8.2 |
| 7.3 |
| 7.4 |
| 8.0 |
| 6.0 |
| 16.6 |
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(a) AbbVie considers one-third of rent expense to be a reasonable approximation of the interest factor in its leases.