EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) Eli Lilly and Company and Subsidiaries (Dollars in Millions) Nine Months Ended September 30, Years Ended December 31, ------------ ------------------------------------- 1994 1993 1992 1991 1990 1989 ---- ---- ---- ---- ---- ---- Consolidated Pretax Income before Accounting Changes $1,454.0 $701.9 $1182.3 $1879.2 $1599.0 $1329.9 Interest 84.8 96.7 109.1 88.9 93.8 57.1 Less Interest Capitalized during the Period (19.2) (25.5) (37.4) (49.1) (27.4) (15.8) ---- ---- ---- ---- ---- ---- Earnings $1,519.6 $773.1 $1254.0 $1919.0 $1665.4 $1371.2 ======= ====== ====== ====== ====== ====== Fixed Charges: Interest Expense $ 84.8 $ 96.7 $ 109.1 $ 88.9 $ 93.8 $ 57.1 ======= ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 17.9 8.0 11.5 21.6 17.8 24.0 ==== === === ==== ==== ====