Exhibit 12
Abbott Laboratories
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(dollars in millions except ratios)
|
| Three-Months Ended |
| |
Net Earnings |
| $ | 823 |
|
Add (deduct): |
|
|
| |
Taxes on earnings |
| 286 |
| |
Amortization of capitalized interest, net of capitalized interest |
| 1 |
| |
Minority interest |
| 2 |
| |
|
|
|
| |
Net Earnings as adjusted |
| $ | 1,112 |
|
|
|
|
| |
Fixed Charges: |
|
|
| |
Interest on long-term and short-term debt |
| 45 |
| |
Capitalized interest cost |
| 2 |
| |
Rental expense representative of an interest factor |
| 15 |
| |
|
|
|
| |
Total Fixed Charges |
| 62 |
| |
|
|
|
| |
Total adjusted earnings available for payment of fixed charges |
| $ | 1,174 |
|
|
|
|
| |
Ratio of earnings to fixed charges |
| 18.9 |
|
NOTE: For the purpose of calculating this ratio, (i) earnings have been calculated by adjusting net earnings for taxes on earnings; interest expense; amortization of capitalized interest, net of capitalized interest; minority interest; and the portion of rentals representative of the interest factor, (ii) Abbott considers one-third of rental expense to be the amount representing return on capital, and (iii) fixed charges comprise total interest expense, including capitalized interest and such portion of rentals.