Exhibit 12
Abbott Laboratories and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(dollars in millions)
|
| Nine Months Ended |
| |
|
| September 30, 2016 |
| |
Earnings from Continuing Operations |
| $ | 298 |
|
Add (deduct): |
|
|
| |
Taxes on earnings |
| 240 |
| |
Capitalized interest cost, net of amortization |
| (2 | ) | |
Noncontrolling interests |
| 13 |
| |
|
|
|
| |
Earnings from Continuing Operations, as adjusted |
| 549 |
| |
|
|
|
| |
Fixed Charges: |
|
|
| |
Interest on long-term and short-term debt |
| 278 |
| |
Capitalized interest cost |
| 16 |
| |
Rental expense representative of an interest factor |
| 74 |
| |
|
|
|
| |
Total Fixed Charges |
| 368 |
| |
|
|
|
| |
Total adjusted earnings available for payment of fixed charges |
| $ | 917 |
|
|
|
|
| |
Ratio of earnings to fixed charges |
| 2.5 |
| |
NOTE: For the purpose of calculating this ratio, (i) earnings from continuing operations have been calculated by adjusting earnings for taxes on earnings; interest expense; capitalized interest cost, net of amortization; noncontrolling interests; 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.
