EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES (Unaudited) Eli Lilly and Company and Subsidiaries (Dollars in Millions) Nine Months Ended September 30, Years Ended December 31 ------------ ----------------------- 1995 1994 1993 1992 1991 1990 ---- ---- ---- ---- ---- ---- Consolidated Pretax Income from Continuing Operations $1,401.8 $1,698.6 $662.8 $1,193.5 $1,626.3 $1,418.1 before Accounting Changes Interest from Continuing 243.6 129.2 96.1 108.4 87.1 94.7 Operations Less Interest Capitalized during the Period from Continuing (29.4) (25.4) (25.5) (35.2) (48.1) (27.3) Operations ----- ----- ------ ----- ----- ----- Earnings $1,61.0 $1,802.4 $733.4 $1,266.7 $1,665.3 $1,485.5 ====== ======== ====== ======== ======== ======== Fixed Charges: Interest Expense $243.6 $129.2 $ 96.1 $ 108.4 $ 87.1 $ 94.7 from ====== ====== ====== ======= ======= ======== Continuing Operations Ratio of Earnings to Fixed Charges 6.6 14.0 7.6 11.7 19.1 15.7 ==== ==== === ==== ==== ==== -15-