Abbott Laboratories (ABT) 10-Q 2004 Q2 Quarterly report

Exhibit 12

Abbott Laboratories

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

(dollars in millions except ratio)

	Six Months Ended June 30, 2004
Earnings from Continuing Operations	$	1,397
Add (deduct):
Taxes on earnings from continuing operations	507
Capitalized interest cost, net of amortization	3
Minority interest	5
Earnings from Continuing Operations as adjusted	$	1,912
Fixed Charges:
Interest on long-term and short-term debt	93
Capitalized interest cost	5
Rental expense representative of an interest factor	29
Total Fixed Charges	127
Total adjusted earnings available for payment of fixed charges	$	2,039
Ratio of earnings to fixed charges	16.1

NOTE:For the purpose of calculating this ratio, (i) earnings have been calculated by adjusting earnings from continuing operations for taxes on earnings from continuing operations; interest expense; capitalized interest cost, net of amortization; 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.